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PM Madbouly leads Egypt’s delegation, meets WB President, US VP at IMF and World Bank meetings
World Bank aims to increase cooperation with Egypt in the field of infrastructure
International financial institutions recommend Egypt to further improve its competition policy
Egypt made nominal efforts to consolidate SOEs, says WB
Nasr participates in the IMF, WB’s 2019 annual meetings
Nasr will take part in a session titled “Jobs and economic transformation in emerging markets” along with five speakers on Friday, according to the IMF website.
Global growth to reach 3% in 2019, slowest pace since 2008 financial crisis: IMF
Three countries, including Egypt, to drive MECA’s growth in 2020, says WEO report
Egypt’s tourism revenues to rebound to $16.7bn by year-end: IMF
Next Article IV consultation likely to be held early 2020, says staff report
Did IMF-backed reform reduce Egypt’s debt?
The IIF works in a sample of 25 past IMF programmes in developed, emerging, and frontier markets that started with debt to GDP ratios above 75%.
Kristalina Georgieva: meet IMF’s new managing director
Former WBG’s interim president to officially assume her new position on Tuesday
IMF’s immediate priority is to help countries minimize risk of crises, be ready to cope with downturns: Georgieva
Georgieva to begin a five-year term as new IMF’s MD early October
AMF, IMF discuss in Cairo challenges facing SMEs in Arab countries
These projects have positive repercussions on improving financial inclusion and enhancing financial, economic, and social stability. SMEs account for more than 95% of total enterprises in the vast majority of the world and contributing 33% to the GDP of developing economies.
How can Egyptians reap fruits of economic reform?
Egypt embarked on a bold economic reform programme that included the pound flotation, a reduction in fuel and electricity subsidies, imposing taxes including the value-added tax (VAT), all with the aim of trimming the budget deficit.
Egypt’s monetary policy should continue inflation targeting: IMF
High interest rates hinder attracting more FDIs, says GAFI’s former CEO
Egypt’s monetary policy should continue to aim to sustain inflation in line with its medium-term objectives: IMF
CBE’s decision to reduce interest rates reflects favourable inflationary trends, says Lall
Kristalina Georgieva visits Cairo in first stop in IMF candidacy foreign tour
President Al-Sisi affirmed his interest in boosting cooperation with international institution to support development in Egypt, Africa
Fiscal deficit to record 7.3% of GDP in FY19, current account will move into surplus from 2021, political stability to strengthen
Egypt’s fiscal consolidation to continue, unemployment shrinking, GDP to record 5.5% in 2020: The Economist Intelligence Unit
IMF warns that currency devaluations will not fix a country’s economic problems
Monetary easing can help stimulate domestic demand, which in turn benefits other countries by increasing demand for their goods. The concern, however, is that monetary easing also weakens a country’s exchange rate, making exports more competitive and reducing demand for other countries’ imports as they become more expensive—a phenomenon known as expenditure switching
5.5% economy growth expected in Egypt by 2020 as IMF programme wraps up: IIF
Risks are tilted to downside due to less supportive external environment, says IIF
IMF says it cares about inequality. But will it change its ways?
lender of last resort, the IMF provides countries in economic turmoil with financial support. In return, borrowing countries must often commit to far-reaching policy reforms
Deepening effective reforms critical to underpin Egypt’s positive economic outlook: IMF
Deepening and broadening of Egypt’s effective reforms is critical to underpin the positive outlook for growth and unemployment of the country, David Lipton, the International Monetary Fund (IMF) Acting Managing Director
IMF likely to approve final $2bn of Egypt’s loan next Wednesday
The IMF’s board approval of fifth review will allow Egypt to receive the last $2bn tranche of its loan.
Egypt’s GDP grows 5.6%, budget deficit registers 8.2% in FY 2018/19
The ongoing fiscal reforms managed to reduce the budget deficit to 8.2% in FY 2018/19, in continuation to the ongoing down trend from 9.8% in the FY 2017/18 and 12.5% in FY 2015/16.
Why AMF is a good idea and what can be done to get it going?
In our view the AU leaders should also use their meeting to reinvigorate their efforts to create an African Monetary Fund (AMF).
As Egypt’s reforms almost come to an end, Deutsche Bank foresees growth picking 5.9% in FY 20, EGP, private consumption strengthening
Institutional weaknesses, unfavourable external backdrop may weigh in on growth, inflationary pressure to rise, says the bank
G20 finance leaders agree trade tensions have ‘intensified’
International Monetary Fund chief Christine Lagarde said trade tension was the “major” headwind facing the global economy, telling Japan’s Nikkei daily it was a “significant risk on the horizon.”
IMF to remain involved in Egypt’s reform, financing needs remain threat: Standard Chartered
Bank foresees inflation averaging 11.1% in FY 2019/20, further interest rate cuts by CBE
IMF mission completes final review of Egypt’s reform programme for $2bn loan tranche
Fund calls on improving access to finance, industrial land allocation, competition, transparency, management of state-owned enterprises
IMF mission praises Egypt’s tourism structural reform programme
During the meeting, Al-Mashat highlighted the importance of the tourism sector for the growth of countries’ economies, explaining that in Egypt the tourism sector contributes to providing job opportunities for more than three million people and represents 20% of the GDP.
Egypt reaps rewards of structural reforms: OBG
Noteworthy, Egypt has been implementing economic reforms as part of a $12bn three-year programme agreed with the International Monetary Fund (IMF) in November 2016, including the cuts to energy subsidies and pound floatation, as well as the introduction of the value-added tax.
IMF’s mission to conclude by new subsidy cut, no taxes, job creation
The International Monetary Fund’s (IMF) delegation has arrived in Cairo on Monday to conduct the sixth and final review before disbursing the last $2bn tranche of a $12bn extended fund facility. The visit lasts for 10 days, in which the IMF’s delegation will hold meetings with the leaders of the ministry of finance to discuss …
Investing in people helps to share in benefits of economic growth, technological progress
Only 1.7% of country’s public investment are injected in infrastructure, says Lagarde
IMF fourth review confirms economic programme on right track: Pharos
Pharos Holding For Financial Investments issued a report commenting on the International Monetary Fund’s (IMF) fourth review of Egypt’s economic reform programme, stating that the programme is broadly on right track. All of the June and December 2018 performance criteria and indicative targets were fully met, with the exception of June’s target on public debt. …