Egypt’s external debt recorded $164.7bn end of June rising 5.8% Y-o-Y: CBE
Egypt’s debt breakdown by maturityBy original maturity, Egypt’s external debt reaffirmed its pattern of long-term debt predominance at the end of June 2023. Breakdown by currencyMeasuring the currency composition of Egypt’s external debt is an important indicator that sheds light on the external debt exposure to currency markets’ volatility. The Central Bank’s external debt increased by about $2.7bn to $43.6bn, representing 26.5% of external debt. External debt indicatorsEgypt’s external debt stock to GDP represented 40.3% at the end of June 2023 compared with 32.6% at the end of June 2022. Short-term external debt by residual maturity to total external debt registered 30% at the end of June 2023 against 27.1% at the end of June 2022.
Source:Daily News Egypt
December 03, 2023 19:14 UTC
LIVE UPDATE: Egyptian expats cast ballots on last day of voting abroad in 2024 Presidential Election
CAIRO – 3 December 2023: Sunday marks the last day of voting for Egyptian expats in the 2024 Presidential Election as they are casting ballots at 104 embassies and consulates worldwide. 16:38: Egyptians are flowing in big numbers to voting venues in Geneva. 16:36: Egyptians are flowing in big numbers to voting venues in the Saudi capital, Riyadh. 16:14: Egyptians are flowing in big numbers to voting venues in Netherlands. 11:06: Female expats make a high turnout in the voting venues in Jeddah.
Source:Egypt Today
December 03, 2023 17:11 UTC
Haven't voted yet in Egypt's 2024 Presidential Elections abroad? It's not too late!
CAIRO – 3 December 2023: It is the last day of voting in the 2024 Presidential Elections for Egyptians living abroad. If you have not yet voted in the elections, check the National Election Authority’s website to find out where to cast your vote in your country of residence. Vote counting commencedThe NEA said on Sunday that the counting of votes from Egyptians living abroad in the 2024 Presidential Elections has commenced in Wellington, New Zealand, after three days of overseas balloting. Every Egyptian who has reached the age of 18 has the right to participate in the presidential elections. Other candidates are Farid Zahran, head of the Egyptian Social Democratic Party; Abdel Sanad Yamama, Head of Al-Wafd Party, and Hazem Omar, head of the Republican People’s Party.
Source:Egypt Today
December 03, 2023 14:01 UTC
Gaza genocide continues as death toll from Israeli attacks hits 15,000
The Israeli army continued its aggression against the besieged Gaza Strip, for the second day after the end of a week-long truce. The death toll from the Israeli aggression climbed to 15,208 deaths, and 40,652 injuries according to the spokesperson for the Ministry of Health in Gaza, Ashraf Al-Qudra. On Saturday, Israeli aircraft launched raids on various parts of the Gaza Strip and committed a new massacre in the Jabalia camp, resulting in the death of more than 100 Palestinians. Over the past three days, delegations from Egypt, the US, Israel and Qatar met in Doha to discuss extending the humanitarian truce in Gaza, but talks have failed. He pointed out that those infected need life-saving care, and healthcare workers need protection and supplies to provide the service.
Source:Daily News Egypt
December 03, 2023 06:12 UTC
Global climate finance coalition forged at COP28 to empower emerging markets
In a significant step forward in the fight against climate change, the Global Capacity Building Coalition (was launched Saturday at COP28. This unprecedented global collaboration will work to significantly increase the availability and effectiveness of climate finance technical assistance programs for financial institutions in emerging markets and developing economies (EMDEs). The Global Capacity Building Coalition is well-positioned to play a leading role in unlocking climate finance for EMDEs. Kristalina Georgieva, Managing Director of the IMF said: “We welcome the creation of the Capacity Building Coalition on Climate Finance. That requires enhancing the technical assistance and capacity support financial institutions in developing countries receive – including to make it more responsive to demand and needs.
Source:Daily News Egypt
December 03, 2023 05:19 UTC
Sheikh Ahmed Al Tayeb: Palestinian students exempted from tuition fees in Al Azhar educational institutions, University
CAIRO – 3 December 2023: Grand Imam of Al Azhar, Sheikh Ahmed Al Tayeb, directs that Palestinian students will be exempted from tuition fees and hosted in the Islamic Mission City in Cairo. Also, monthly pocket money will be given to all Palestinian students coming to study at Al-Azhar University and Islamic scholarship institutes. The number of Palestinians studying at Al Azhar University and Institutions is 444 male and female students, in addition to 75 who applied for scholarships this year. “This comes within the framework of Al-Azhar’s full solidarity with the people of Palestine against the brutal Zionist aggression,” Al Azhar Sheikhdom said in a statement on Saturday.
Source:Egypt Today
December 02, 2023 22:15 UTC
Egypt highlights debt burden of developing nations at COP28
Additionally, the funding needed to implement developing countries’ pledges by 2030 is estimated at $6 trillion, while current flows do not exceed $100bn annually. Expert reports estimate the climate financing gap at $2.5trn, exacerbated by the debt crisis facing developing countries due to external factors. This debt crisis further constrains developing countries’ ability to access loans at affordable rates. These measures include accelerating the activation of debt management mechanisms for developing countries, including middle-income countries, by expanding debt-for-development swaps. Al-Sisi also urged countries to join the Sustainable Debt Alliance Initiative, launched by Egypt in collaboration with the United Nations Economic Commission for Africa.
Source:Daily News Egypt
December 02, 2023 18:10 UTC
Technical Success: National Election Authority Ensures Smooth Overseas Voting
The elections abroad are conducted over three days – Friday, Saturday, and Sunday, corresponding to December 3, 2, and 1. The electoral process is held outside the Arab Republic of Egypt in 137 embassies and consulates across 121 countries globally. The National Election Authority previously confirmed the successful trial run of the devices and software used in the electoral process. Specialized technical support teams within the authority are tasked with providing comprehensive technical assistance to Egyptian embassies and consulates abroad. The Executive Director of the National Election Authority and relevant experts within the authority held virtual meetings with ambassadors and consuls, who serve as heads of the subcommittees at Egyptian embassies and consulates abroad.
Source:Egypt Today
December 02, 2023 09:11 UTC
LIVE UPDATE: Egyptian expats cast their votes on 2nd day of 2024 Presidential elections
Egyptian expats in Doha, Qatar cast their votes on the second day of 2024 Presidential electionsCAIRO - 2 December 2023: The second day of voting process in the presidential elections kicked off abroad, where Egyptian expats flow to embassies and consulates in most of the world countries to express their will. An increased turnout was witnessed by the Egyptian Embassy in Doha, on the second day of Egyptians voting abroad in the 2024 Egyptian presidential elections, which continues until Sunday. Egyptian Voters in AustraliaEgyptians in Australia continue to flock to the headquarters of the subcommittees of diplomatic missions to cast their votes on the second consecutive day of the 2024 presidential elections. In Vietnam, Voters flocked for the second day to the Egyptians embassy to cast their votes in the elections for Egyptians abroad. The voting abroad is taking place over three days from 1-3 December in 121 countries from 9 AM to 9 PM every day.
Source:Egypt Today
December 02, 2023 08:56 UTC
Gaza ceasefire collapse: Death toll from Israeli attacks surpasses 100
The Palestinian death toll resulting from Israeli attacks on the Gaza Strip has surpassed 100, hours after a seven-day ceasefire between the two sides expired on Friday morning, said the Palestinian Health Ministry. Ministry spokesperson Ashraf al-Qedra said in a press statement that “about 109 Palestinians, mostly women and children, were killed by the Israeli airstrikes in the Strip.”
Source:Daily News Egypt
December 02, 2023 05:10 UTC
COP28: Global drought reaches “unprecedented emergency” level, says UN report
Draughts have become an “unprecedented emergency” on a global scale and the massive impacts of human-induced droughts are “only starting to unfold,” found a two-year study newly released at the UN climate change conference ongoing in UAE’s Dubai. According to the “Global Drought Snapshot” report published by the UN Convention to Combat Desertification (UNCCD) at the outset of COP28 climate talks, the severe drought worldwide has claimed more lives, caused heavier economic loss, and affected more social sectors than any other disaster. The impacts are truly global. “We hope this publication serves as a wake-up call,” UNCCD quoted its Executive Secretary Ibrahim Thiaw as saying on Thursday. He stressed the need for transformational change, warning that with droughts increasing in frequency and severity, reservoir levels and crop yields are declining and famine is spreading.
Source:Daily News Egypt
December 01, 2023 22:49 UTC
Nearly 50,000 employees relocated to New Administrative Capital
The Egyptian government announced on Thursday approximately 48,108 employees have been relocated to the New Administrative Capital so far. Prime Minister Mostafa Madbouly said that he is following up with the head of the Central Agency for Organization and Administration on the transfer of employees to the New Administrative Capital. About 40,000 employees will be transferred to Egypt’s New Administrative Capital and provided with apartments, Cabinet spokesperson Nader Saad said back in 2021. Saad said that the move to the Administrative Capital represents a quantum leap, but reassured citizens, saying, “You will not have to go to the new administrative capital to receive government service,” indicating that many government services will be digitized as part of the move. Employees transferred to the capital will be evaluated through a comprehensive assessment of their skills in Arabic and English, personal skills and computers through international programs.
Source:Egypt Independent
December 01, 2023 17:37 UTC
Egypt reaffirms its solidarity with Palestinian people: Foreign Ministry
Egypt joins the international community in marking the International Day of Solidarity with the Palestinian People, which is celebrated on November 29 every year, in solidarity with the steadfast Palestinian people, and affirmation of the Palestinian cause as a living and present issue in international forums and the world conscience. The Ministry of Foreign Affairs said in a statement on Wednesday that the International Day coincides this year with a painful reality, in which the Palestinian people are facing an unprecedented brutal aggression, in which humanity is slaughtered every day for more than 54 days. Egypt stressed that its position on the Palestinian issue has not and will not change and that it is committed to its responsibility towards the Palestinian issue as a genuine commitment, for which it is exerting every precious effort until the brotherly Palestinian people obtain their legitimate rights to establish their independent state. On this day, Egypt stressed that regional stability in the Middle East will only be achieved through a fair and comprehensive settlement of the Palestinian issue, based on the two-state solution and the relevant resolutions of international legitimacy. According to the UN, about 1.4 million people have been displaced from their homes in Gaza and the northern Gaza Strip, more than half of the Strip’s population, since the outbreak of the war.
Source:Daily News Egypt
December 01, 2023 09:01 UTC
Ministerial Committee of Arab-Islamic Summit rejects displacement of Palestinians
They also met with Wang Yi, the Foreign Minister of China, who is the current president of the UN Security Council. The meeting was part of the efforts of the Ministerial Committee, which was formed by the decision of the Arab-Islamic summit, to end the war on Gaza. The meeting took place before the Security Council briefing session, which was convened by China at the ministerial level, to discuss the situation in the Gaza Strip. They also expressed their categorical rejection of the displacement of the people of the Gaza Strip, whether inside or outside the strip or the creation of buffer zones in the north of the strip. He reviewed the cooperative efforts between Egypt and Qatar to extend and complete the temporary humanitarian truce agreement in the Gaza Strip.
Source:Daily News Egypt
December 01, 2023 06:41 UTC
Dollar rate in Egypt’s black market sees sudden, significant decline
The dollar price at the black market for currency speculation (the unofficial market) witnessed a significant decline by about five pounds during Thursday’s trading – the first time in a month. The sources added that the movements of the price of the dollar on the black market, whether rising or falling, are strongly affected by the size of the sudden demands for it. The higher the demand, the higher the price, or vice versa. Thus, the gap in the dollar exchange rate between the black market and the banks decreased to about 16 pounds, as it recorded in the banking sector around 31 pounds, a fixed rate, since last March. The price of the dollar rose against the pound by about 96 percent, after three waves of devaluation of the pound – bringing the dollar price from 15.76 pounds on March 20, 2022 to about 30.94 pounds now, which has remained stable.
Source:Egypt Independent
December 01, 2023 05:36 UTC