Egypt close to $7bn a year support agreement with IMF
Egypt close to $7bn a year support agreement with IMF
London - MENA
Egypt says it is close to finalizing an agreement with the International Monetary Fund for a three-year support program with the aim of securing funding worth $7bn a year, according to Financial Times.
The announcement comes as the Egyptian pound reached a record low against the dollar on the black market this week. It has been selling for a 45 per cent premium over the official rate.
The country has been in the grip of a severe foreign currency shortage since the beginning of the year.
This was mainly because of damage to the tourism industry after a terrorist bomb brought down a Russian airliner shortly after takeoff from an Egyptian airport.
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Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
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