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Leading property experts in favour of “golden visa” proposal
May 2013
The suggested of a “golden visa” of residency for investors buying properties in Spain over €500,000 has been warmly welcomed...

Istanbul property market goes from strength to strength
April 2013
The buy-to-let property market is alive and well in Turkey and no more so than Istanbul...

Foreign investors favour Turkey right now
April 2013
As a result of the new “reciprocity law” in Turkey foreigners are buying property in Turkey in larger numbers than before....

American House Prices Set To Jump
March 2013
US property is being predicted with an increase of 22% expected over the next 5 years...

Foreign Sales of Spanish Property on the Rise
March 2013
Latest figures show an increase in sales to foreigners, including or perhaps especially Scandinavians...

Spain Starting to Show a Different Side
February 2013
While it is way to early for champagne and fireworks, or even wine and party-poppers in the Spanish property market, it does appear as if things have at least stopped getting any worse...

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Residences of Milan - Finance available

Florida  -  America
With demand in Central Florida for tenanted, investor units at an all time high, we have been able to source a true gem ...

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Egypt Plans to Sign IMF Loan Agreement in the Summer

Posted On: 07/04/2012

Egypt is planning to sign an agreement with the International Monetary fund for a $3.2 billion loan by early summer, according to the Minister of Planning and International Corporation, Fayza Aboulnaga. Once the memorandum of understanding has been signed, Egypt will be able to access half of the loan, but the IMF still has to gain backing from all the major political groups in the country before it will grant approval.

Although Egypt needs the loan, not all the political groups are in agreement as the Muslim Brotherhood which holds 47% of the seats in parliament, wants to ensure all other possibilities of funding the loan through domestic markets have been exhausted before the government takes on any more additional debt. The Brotherhood is worried that the government’s current economic program which has been submitted to the IMF during negotiations is too vague.

Egypt applied to the IMF for the loan as it needs to cover the current budget deficit, and its foreign currency reserves are currently too low. It hopes reaching an agreement with the IMF would encourage more investment into the country, and could lead to other donors making good on aid promises.

According to the central bank of Egypt, net international reserves dropped to $15.1 billion in March, down from $15.7 billion in February and $36 billion at the end of 2010. Egypt applied before the loan in January having turned down a similar offer from the IMF last year.

It is hoped the loan agreement will be finalised during the next couple of months provided it can be shown to have broad support. It remains to be seen how likely this is to happen, as according to the latest reports a political group is currently impeding progress.

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Kusadasi Spa Village Resort - furnished


Kusadasi - Turkey
Fully furnished apartment on stunning development On the Aegean Coast of Turkey is an unspoiled area of natural beauty, an area of historical and natural containing thermal springs built far away ...

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Tiba Plaza - new launch!!


Hurghada - Egypt
Tiba Plaza It’s coming to establish the incredibly successful “TIBA'S Projects” development family resorts which are located near of All Tiba's project. Tiba Plaza is located in the fast growing a...

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Tiba Nouria - New Launch


Hurghada - Egypt
Tiba Nouria It’s coming to establish the incredibly successful “TIBA'S Projects” development family resort. Tiba Nouria is located in the fast growing area of Al-Ahyaa, which has been recently desi...

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Sousse Apartments Offer


Sousse - Tunisia
We have exclusive access to these fantastic 2 re-sale apartments in Sousse which are fully furnished to a nice for TUNISIAN standards. There are the original deeds available, registrations papers a...

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Sandy Lance - Frontline Beach


Calabria - Italy
Sandy Lane Features • Frontline Beach. • Nearby amenities include: school, supermarket, 4 lidos, hotel, Enrico’s (coffee shop/ice cream/pasticeria), Callipo’s (Ice cream & Tuna). • Private ...

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City Spor 2 with gteed rental


Istanbul - Turkey
CITY SPOR 2 DESCRIPTION. Every day peoples’ biggest wish is to see the smiling faces of people they know, to enjoy comfortable living standards and, most importantly, to be in a safe environment. T...

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Palms Club


Florida - America
Welcome to The Palms Club, this vibrant Mediterranean-inspired environment creates a beautiful, tranquil setting even as the activity swirls non-stop around you. Enjoy as much or as little as you desi...

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The Chezz - pay 70% on completion


Pattaya - Thailand
The Chezz Pattaya Price: THB 1,539,000 Type: Apartment Size: 29 Sq.m City: Pattaya Area: Central Pattaya Development: The Chezz Bedrooms: Studio Handover Date: 30/08/2014 Thailands leadin...

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AbaTalay Condos - new launch coming soon


Pattaya - Thailand
ABATALAY CONDOMINIUM at Jomtien Beach Affordable Luxury Ocean Side Condominiums starting at 699,000 Thai Baht A new development in Jomtien that is offering 23.1m2 studios for THB 750,000 (£...

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Lanna Koh Samui


Koh Samui - Thailand
Description: Nominated For The 2011 Asian Property Award, Best Residential Development Koh Samui. Following on from our sold out CODE development, Lanna, is a collection of studios, 1 Bedroom apartm...

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