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Tuesday, 4 October 2016

What we’re tracking this week

El Garhy, Amer in DC to push for IMF approval of USD 12 bn facility: Finance Minister Amr El Garhy and Central Bank Governor Tarek Amer will reportedly be in DC on Wednesday to lay groundwork for Egypt’s final push to secure USD 12 bn IMF facility ahead of the upcoming annual meetings of the IMF and World Bank Group, due to take place on 7-9 October. They will reportedly be joined by International Cooperation Minister Sahar Nasr and Planning Minister Ashraf El Araby. El Garhy and IMF Egypt mission chief Chris Jarvis both warned in the past few days that it’s unlikely the IMF’s executive board will pass the facility in the next two weeks.

A ban on the sale in Egypt of tickets that do not begin or end in Egypt will go into effect on Wednesday. Civil Aviation Minister Sherif Fathi issued the decree over the holiday weekend.

Also on Wednesday, the Emirates NBD / Markit purchasing managers’ indices for Egypt, Saudi Arabia and the UAE are due at 6:15 am CLT. The Egyptian gauge deteriorated for 11 straight months through August.

President Abdel Fattah El Sisi will discuss the Grand Ethiopian Renaissance Dam with Sudanese president Omar Al Bashir at Ittihadiya on Wednesday.

Thursday is a national holiday in observance of Armed Forces Day.

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