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Monday, 23 October 2017

What we’re tracking on 23 October 2017

An IMF delegation arrives in Cairo today to review progress on the economic reform program ahead of unlocking the next tranche of Egypt’s USD 12 bn extended fund facility. Finance Minister Amr El Garhy and CBE Governor Tarek Amer met earlier this month with IMF Chief Christine Lagarde, who “praised” Egypt’s reforms. El Garhy had previously said the government has completed 80% of its intended “tough” reforms.

A World Trade Organization delegation arrived in Cairo on Saturday to discuss its drafttrade policy review on Egypt, Al Masry Al Youm reports. The delegation will meet with officials including Trade and Industry Minister Tarek Kabil during its five-day visit. This is the WTO’s third visit in relation to the review. An April delegation had commended the government’s “2020 export strategy” and efforts to revamp trade policies.

President Abdel Fattah El Sisi sets off to Paris today for a three-day visit. El Sisi will be sitting down with French President Emmanuel Macron tomorrow ahead of a joint press conference, Al Ahram reports. The two leaders are likely to discuss a new arms agreement, sources tell Al Masry Al Youm, adding that Egypt’s temporary ban on French wheat imports will also be on the list of topics.

El Sisi will also meet with a number of other French officials (including the prime minister and presidents of the Senate and National Assembly) and will hold a roundtable with French investors. Look for MoUs on energy, infrastructure, education, and tourism.

The World Boxing Federation is out with its match report from GB Auto IRO Andre Valavanis’ defense of its WBF Intercontinental Welterweight belt on Sunday night, declaring that Andre put on a “flawless performance” in his first defense of his title. “Valavanis was simply too superior to Georgian opponent Vladimer Janezashvili, who was hurt by body-shots in the second round, claimed a shoulder injury, and was saved by his corner when the towel was thrown in and referee Eddie Marshall waved it off.” The victory gives Andre a record of 10-0. (Photo by Kyle Morrow).

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