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Sunday, 16 October 2022

Last Night’s Talk Shows: Our imminent IMF agreement + hungry chicks

Last night’s talk shows focused on the IMF package that’s arriving “very soon:” Deprived of a concrete announcement on our imminent IMF loan, the talking heads were forced to discuss it once again in hypothetical terms. A chicken feed crisis also had the pundits squawking.

Securing the IMF loan will attract foreign inflows: “The agreement is about more than just the money we’re getting, it will serve as a testament of confidence which will translate to more investments into the country,” House Budget and Planning Committee Chairman Fakhri El Fiqi told Hadrat El Mowaten (watch, runtime: 11:41). Kelma Akhira broke down the Fund’s statement regarding our loan (watch, runtime: 9:29). We have more on the story in our Economy section, above.

Too many chicks, not enough feed: Some USD 340 mn worth of corn and soybeans for chicken feed is stuck at ports waiting for letters of credit, former vice chairman of the Poultry Producers Union Mohamed El Shafei told El Hekaya (watch, runtime: 11:23). The lack of available food is forcing farmers to kill their chicks, he said.

The entire world is facing issues with corn and soybean supply, Agriculture Minister El Sayed El Quseir told Ala Mas’ouletty (watch, runtime: 10:46). The state is doing its best to protect poultry producers and is trying to boost local corn production, he added. The government released some USD 35 mn worth of corn imports and USD 15 mn in soybean imports earlier this month, he said. El Shafei said that won’t be enough to impact the market.

Also on the airwaves last night:

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