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Thursday, 18 July 2019

What we’re tracking on 18 July 2019

Could we finally get our hands on the final IMF loan tranche next week? The IMF’s executive board will make its final decision over the fifth and final review of the USD 12 bn economic reform program on 24 July, potentially paving the way for disbursement at the tail-end of next week. The Finance Ministry has made it clear that the government is after some sort of non-financial post-loan agreement with the fund before October, although we’re not entirely sure yet what shape it will take. We’ll likely find out more in the coming weeks as the near-three-year program comes to an end.


Algeria and Senegal are going head to head tomorrow for the Afcon title. The final game will be played at 9 pm CLT at the Cairo International Stadium. Nigeria landed in third place after emerging victorious from its match against Tunisia yesterday.

As for our post-Afcon team, Hassan Shehata may just be what the doctor ordered: Golden-era coach Hassan Shehata may be tapped to return and salvage Egyptian football team, according to Ahram Online. It would be unsurprising to put an Egyptian in charge after two back-to-back disappointing runs from foreign managers.


Peace in Sudan? The Sudanese military and opposition coalition have signed a final power-sharing agreement that could bring months of anti-government protests and military crackdowns to an end. The two sides agreed to set up a council composed of five civilian representatives, five military leaders and an eleventh civilian to be selected by the other members. A military general will take the helm for the first 21 months before ceding power to a civilian who will rule for another 18 months. An election is expected to follow at the end of this period. The BBC has more.

President Abdel Fattah El Sisi congratulated Sudanese army Chief of Staff Hashem Abdel Muttalib Babakr during his visit to Egypt yesterday, according to an Ittihadiya statement. Babakr also held talks with Egyptian Armed Forces Chief of Staff Mohamed Farid to discuss military cooperation, army spokesperson said.


Across the pond, the US House voted yesterday against an attempt to impeach President Donald Trump over racist statements he tweeted out earlier this week against four congresswomen, according to the New York Times. Although the impeachment article was tabled, “the floor debate devolved into an extraordinarily spectacle as Republicans and Democrats argued about whether it was appropriate for [House Speaker Nancy] Pelosi to have branded the president’s tweets ‘racist.’” The process also brought to light schisms among Democrats over how to handle Trump’s actions, and whether they should address his conduct by moving to get him removed from office or focusing on their policy priorities.

The US may have just opened itself to further Chinese sanctions: The World Trade Organization has judged that the US did not comply with a ruling dating back to an Obama-era tariff dispute with China, giving Beijing an opening to retaliate, Reuters reports. China challenged US anti-subsidy tariffs on USD 7.3 bn of Chinese exports at the WTO in 2012. The US had argued the Beijing was using public companies to subsidize its economy but the WTO said that Washington had to accept Chinese prices. Beijing will now be able to impose counter-sanctions if the US continues to refuse the prices.

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