FinMin opens EGP 6 bn export subsidy batch to settle pre-July 2024 arrears

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The Finance Ministry is allocating EGP 6 bn for the third cash-payment batch covering export-subsidy arrears on shipments made before 1 July 2024 statement

The backlog math: EGP 60 bn settlement mechanism

The current framework is intended to prevent another backlog. EGP 45 bn FY 2025/26 program FY 2026/27 budget earmarks EGP 48 bn

Fresh data, fresh sukuk

We have fresh details on the government’s new tax-backed sukuk.

They won’t be limited to corporates. reported yesterday

Nor will they trade like ordinary government debt:

IN CONTEXT- an EGP 4 tn

Bidding on 42 gold, associated-mineral, and phosphate exploration blocks will close over the next two days

Why it matters: rolling exploration system

The targets: 840 mn under 1% to 5-6%

IN CONTEXT- seeking nine gold blocks first comprehensive airborne mineral survey in 42 years

Maritime fatalities rise

A small cargo ship identified by Reuters as Egyptian owned was attacked by Yemen’s Houthi militants in the Bab Al Mandab strait Yemeni Coast Guard Authority BBC declared

USD 25.3 bn — that’s how much Egypt has drawn from the IMF since 2016

The end-June cutoff matters: last week

Why was the latest payout larger than expected?

A decade-long story: USD 2.8 bn in emergency financing and a USD 5.2 bn one-year facility expanded to USD 8 bn in March 2024

Destination Sahel Issue III drops this week, and we’re diving into how the North Coast is adapting to a changing market.

Developers are recalibrating as buyer behavior shifts, luxury retail is carving out a bigger piece of Sahel’s economy, and the wellness and sports scene has become a summer destination on its own.

In this issue, we get into what’s actually changing on the ground, from how developers are adjusting their pitch to where to shop and how to stay active this season.

Coming straight to your inbox today.

It’s much nicer in Alexandria

The big story abroad

As the principal players in the regional war harden their stances said said

All the worse for Panama: price jump

And in the AI world: has raised USD 3.5 bn

Paramount mulls Hollywood exit as Warner Bros. merger stalls: threatened

*** It’s Hardhat day — your weekly briefing of all things infrastructure in Egypt: