- QatarEnergy selects Nakilat to own and operate 25 conventional LNG vessels
- The joint development of the Dorra field between Saudi Arabia and Kuwait is pending the demarcation of the border with Iran
- Minister of Energy reaffirms the UAE’s commitment to adopting clean energy and supporting the Paris Agreement
- The new Hassi Messaoud refinery enjoys the support of the government and President Tebboune
- Increasing electrical interconnection capacities to export electricity beyond borders
- Qatar Energy stops sending liquefied gas tankers through the Red Sea for security reasons
- The inauguration of the Duqm Refinery, the largest joint Gulf project in the refinery sector
- Saudi oil exports are faltering due to Houthi attacks on ships in the Red Sea and Gulf of Aden
- Algeria to host and chair the Gas Exporting Countries Forum summit (February 29 to March 2, 2024)
- Egypt Energy Conference and Exhibition 2024 gives a strong impetus to the global energy dialogue
Egypt succeeds in completing the IMF-supported economic reform program
Egypt could obtain the sixth and final part of its $ 12 billion three-year loan program, which began in 2016, after reviewing Egypt’s economic reforms last month, IMF Acting Managing Director David Lipton said.
Under the IMF agreement, Egypt is embarking on tough economic reforms, including the latest round of fuel subsidy cuts in early July, which raised domestic prices by 16-30%.
Mr. Lipton asserts that Egypt has successfully completed the program, which is supported by a three-year agreement with the Fund and has achieved its main objectives. The reforms included the introduction of VAT, significant reductions in energy subsidies and the liberalization of the currency exchange rate, resulting in devaluation.
Mr. Lipton has been Acting Director-General of the International Monetary Fund (IMF) since 2nd of July 2019. He took over the missions of Ms. Christine Lagarde during her temporary suspension of duties.
Prior to joining the fund, Mr. Lipton was a special assistant to the US president and senior director for international economic affairs at the National Economic Council and the National Security Council in White House.
