COP27 is dominating the conversation on Egypt in the foreign press this morning as the global climate summit gets underway today. The questions on most people’s lips ahead of the start of the conference: can the developed and developing worlds come to an agreement on who pays? Many outlets are focusing on the critical question over “loss and damage” this morning including the Financial Times, AFP, Sky News and the Guardian.

MEANWHILE- Bloomberg, the Associated Press, the New York Times, and CNN are all focusing on whether climate activists will have room to operate, while the Independent argues that sky-high hotel rates are pricing out people from developing nations.

Tellimer’s equity research chief isn’t convinced by the IMF program: While the recently-agreed USD 3 bn IMF loan will help Egypt rebuild its foreign reserves, the IMF didn’t go far enough in pushing for deeper structural reforms that could break Egypt’s cycle of economic crises, Tellimer’s’ head of equity research, Hasnain Malik, tells Bloomberg TV (watch, runtime: 5:48).

Float or just another deval? Malik casts doubt on whether the EGP is now operating on a truly flexible exchange rate, calling last month’s depreciation “a big devaluation to a new managed float” and expressing disappointment that the Fund didn’t force through flexibility.

Pushing for private-sector growth: Malik also wanted to see the IMF be more assertive in forcing the government to roll back the state- and military-owned enterprises from the economy and stimulate private-sector growth. “Without fixing that systemic problem, all we’ve done is started the countdown to the next crisis, devaluation and bailout from external partners,” he said. Bloomberg’s Bobby Ghosh is also out with a piece criticizing the IMF for not pushing Egypt hard enough to up private-sector participation in the economy.

Also making headlines:

• Activist Alaa Abdel Fattah is making headlines again as he reportedly escalates his hunger strike from today, while British MP Caroline Lucas is the latest to call in the Guardian for his release. (Washington Post | The Guardian | BBC)
• Ikhwan leader dies: The acting leader of the banned Muslim Brotherhood, Ibrahim Munir, died in London on Friday. (Reuters | AP)
• Archaeologist and former antiquities minister / Egyptian Indiana Jones Zahi Hawass speaks to NBC News about a recent discovery in Saqqara. (NBC News)