Africa

IMF team in Cairo to discuss $3 billion loan program

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia An International Monetary Fund team is currently in Cairo to discuss Egypt’s $3 billion IMF loan and reform program, an IMF spokesperson said on Friday amid discussions about additional funding to ease the country’s Gaza war-related stresses. The spokesperson said in an emailed statement to Reuters that the team, led by IMF Egypt Mission Chief Vladkova Hollar, would “continue discussions on the first and second reviews of Egypt’s reform program supported by the IMF’s Extended Fund Facility. We will communicate at the end of the visit.” The IMF’s Middle East and Central Asia director, Jihad Azour, also was in Cairo earlier this week on an annual retreat with the division’s regional offices, and met with Egyptian authorities and regional stakeholders, the spokesperson added. Egypt has been hit hard by Israel’s war against Hamas in neighboring Gaza, which has hurt tourism bookings and natural gas imports and prompted attacks on Red Sea shipping. IMF chief spokesperson Julie Kozack told reporters last week that additional financing was “critical” to the success of the Egypt program, but amounts and potential disbursements were under discussion. Also under discussion was the need for tighter fiscal and monetary policy. deserunt mollit anim id est laborum.

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Chad arrests 80 over suspected insurrection

Chadian authorities said Friday they have arrested 80 people suspected of planning “insurrection.” The suspects belonging to a group named “M3M movement attempted to carry out insurrectional actions on Jan.13,” Gen. Mahamat Mamadou Aboubakar, the director of operations at the Directorate General of Military Intelligence told reporters in the Chadian capital N’Djamena. “Their attempt was foiled by the security forces. The 80 suspects including their leader identified as Lieutenant Kouroumta Levana Guelemi have been arrested for prosecution,” he said. Aboubakar urged the population to remain vigilant and report any suspicious cases to the authorities. The political situation in Chad deteriorated since 2021 following the death of former President Idriss Deby Itno, who died on the frontline of a war against rebels after ruling for 30 years. His son Gen. Mahamat Idriss Deby Itno took the country’s leadership following the death of his father. In January last year, the military government said its security forces thwarted an attempt by a group of army officers to destabilize the country and undermine constitutional order. President Mahamat Itno was this month designated by his ruling party Patriotic Salvation Movement (MPS) as its candidate in the presidential election scheduled for this year. The younger Deby had pledged to hand over power to an elected government after 18 months — a deadline that was not achieved.

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