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Sunday, 27 January 2019

IMF’s positive remarks on Egypt lead discussions on the airwaves

Positive comments on Egypt from IMF boss Christine Lagarde led discussion on the airwaves last night. Vice Minister of Finance Ahmed Kouchouk said the support was expected as recent economic indicators have shown noticeable improvement (watch, runtime: 06:11). Hona Al Asema’s Reham Ibrahim also spoke with CI Capital Economist Hany Farahat who said thatthe remarks show the lender’s confidence in Egypt’s economic reform program (watch, runtime: 11:48). Farahat expects Egypt to receive the fifth tranche of the USD 12 bn facility that the country signed in 2016 in the first 10 days or two weeks of the coming month. We have more in this morning’s Speed Round, below.

The economic reform program includes social welfare spending to protected vulnerable groups, Social Solidarity Ministry spokesman Mohamed El Okaby told Hona Al Asema (watch, runtime: 02:58). El Okaby pointed to the Takaful and Karama welfare programs, which he said now cover over 2 mn families across the country.

Amr Adib also talked some econ last night, saying Egypt is creating jobs through strategic national projects (watch, runtime: 02:01)

Lowlight of the night: A video of a mother who appeared to be pushing her young son out of a window went viral over the long weekend, sparking outrage on social media. The video (and debate over what it showed) was on every channel under the sun last night (here, here, here and here).

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