The International Monetary Fund says it has completed its fourth review of Egypt's economic reform program, approving a $1.2 billion disbursement for the North African country.

Egypt negotiated the IMF deal following an acute currency crisis and after the war in Gaza ate into tourism and Suez Canal ...

Minister of Supply and Internal Trade Sherif Farouk stated that the government will not shift from the current subsidy system ...

Egypt is in the middle of an economic crisis. The seemingly free falling value of local currency following the “floating of the pound” last year has meant soaring living costs for ordinary ...

Essentially, it means the government is no longer controlling the value of the Egyptian pound compared to other currencies. For decades, it had been pegged to the US dollar, which meant that its ...

Last Thursday, the Central Bank devalued the Egyptian pound from $8.8 to $13 and then let it float completely. Yesterday, the pound was trading at around 16 to the US dollar. You can’t buy a ...

Four men arrived and carried away the bags, which U.S. officials later described in sealed court filings as weighing a combined 200 pounds and containing what was then a sizable share of Egypt’s ...