International Monetary Fund
These allocations represent a vaccine injection into the arm of the world, and if used wisely, it will be a unique opportunity to combat this unprecedented crisis, according to a statement by the Fund.
“For the fiscal year 20/21, we still expect a growth of 2.8 percent, and we see that the recovery has begun with expectations of a stronger revival in the next fiscal year, reaching growth to 5.2 percent."
They commended Egypt’s strong performance under the Stand-by Arrangement, a result of timely policy response to the crisis and steadfast implementation of the program with overperformance in key program targets.
The second review allows the authorities to draw the equivalent of SDR 1,158.04 million (about US$1.7 billion), bringing total purchases under the SBA to SDR 3,763.64 million (about US$ 5.4 billion, 184.8 percent of quota).
The Executive Board of the International Monetary Fund (IMF) completed, Wednesday second, final review of Egypt’s economic reform program allowing the authorities to draw about $ 1.7billion.
Egypt will receive the last tranche of its $5.2 billion loan from the International Monetary Fund (IMF) before the end of June, Minister of Finance Mohamed Maait suggested in remarks to Egypt Today.
International Monetary Fund [IMF] Managing Director Kristalina Georgieva said, Tuesday that Egypt has become one of the fastest growing economies in the world.
Egypt’s President Abdel Fattah El Sisi participated Tuesday in Financing African Economies Summit which was held in Paris and divided into two sessions
Real GDP in the MENA region is now expected to grow 4 percent in 2021, up from the fund’s October projection of 3.2 percent.
Getting out of the Coronavirus crisis and supporting those affected by it is the most important priority for the Egyptian government during the current stage,” Managing Director of the International Monetary Fund (IMF) said.
Georgieva praised Egypt's expansion in social protection programs and the provision of credit to companies.
IMF expected the growth of the Egyptian economy by about 5.5 percent during the fiscal years 2021/2022 and 2022/2023.
International Monetary Fund (IMF) has lauded Egypt's measures to address the impacts from the outbreak of the Covid-19 pandemic.
Egypt's portfolio flows are recovering, with reported net inflows of more than $9 billion between June and October—following more than $15 billion in outflows during March/April— reflecting attractive domestic yields with 90-day T-bills at around 13.5 percent, International Monetary Fund (IMF) said Thursday.
On December 27, many important events took place that changed the world, including the completion of the construction of the Hagia Sophia Cathedral and the signing of the agreement to build the Aswan High Dam.
Mohieddin added in a TV interview that this includes increasing the country's investments in the sectors of health care, education and infrastructure to achieve sustainable and long-term growth.
The IMF staff team and the Egyptian authorities have reached a staff-level agreement on the first review of Egypt’s economic program supported by the IMF’s $5.2 billion Stand-by Arrangement
IMF is shouldering big responsibilities pertaining to increasing investments and following up the foreign debts worldwide, he explained.
Egyptian candidate Mahmoud Mohieldin was elected unanimously as the executive director of the International Monetary Fund (IMF) and, accordingly, an IMF board representing the country and Arab states.
At the same time, it expected that the Egyptian economy would achieve growth rates of 5.6 percent over the medium term by 2025.