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IMF expects global goods, services trade to contract 12% in 2020
The report noted that the global volume of goods trade in the first five months of 2020 was about 20% lower than that reported in 2019. The latest figures reflect a more abrupt contraction than that which was seen in the first five months of the global financial crisis in 2008.
Egypt least pandemic-hit economically in MENA as damage split over two FYs
Egypt undertook supportive measures for private sector and social, health care, to confront crisis
IMF forecasts 5.7% economic contraction across MENA region in 2020
Regional GDP growth to recover to 3.4% in 2021, down from 4.2% in April forecast, says IMF
Massive fiscal response to COVID-19 pandemic pushes global public debt to record level: IMF
Global public debt reaching its highest level in recorded history, at over 100 percent of global GDP, in excess of post-World War II peaks
IMF approves immediate disbursement of $2bn under Egypt’s $5.2bn SBA loan
Remainder of SBA loan will be phased over two reviews
IMF approves 12-month $5.2bn Stand-By Arrangement for Egypt
New IMF arrangement aims to help Egypt cope with the challenges posed by the novel coronavirus
IMF forecasts 4.9% contraction in 2020 global economy due to COVID-19
Fund expects negative growth for all regions for first time in its history
Egypt’s new IMF loan agreement stimulates stock market
The benchmark index EGX30 closed at 11,108 points, while the EGX70 EWI rose 3.09% to 1,259 points, and the EGX100 EWI rose 3.31% to 2,028 points.
New IMF loan slows down US dollar appreciation against Egyptian pound
Egypt’s foreign reserves fall to $36.0037bn in May, from $37.037bn in April, says CBE
Egypt, IMF reach staff-level agreement on 12-Month $5.2bn stand-by arrangement
Financing from Egypt’s international partners will be critical for key reform objectives, ensure reform success
IMF support for sectors most affected by COVID-19: Finance Ministry
In a statement on Thursday, Maait said the emergency support will help the government finance those sectors that have been most impacted, including the health sector, and enhance social protection programmes.
IMF mulls cutting Egypt’s COVID-19 assistance duration to under 4 years
Arab countries have been swift to act on the current health crisis, protect citizens and secure economic support
US continues to support Egypt’s economic development: Ambassador Cohen
Washington backs Egypt’s request for emergency financial assistance from IMF
IMF approves $2.772bn emergency support to Egypt to address COVID-19
Egypt acts swiftly to allocate resources to health sector, provide support to severely impacted sectors, expand social safety net
Lebanon has to accept IMF’s tough conditions in return for financial support: president
Lebanon has submitted an official request to the IMF for funds for restructuring its public debt and implementing necessary reforms in the country.
IMF to approve $2.8bn for Egypt in next few weeks: IIF
The funds, which are 100% of the quota, will be made available for Egypt to address the economic impacts of the ongoing coronavirus (COVID-19) pandemic.
IMF calls on governments to make COVID-19 recovery environmentally sustainable
Green technologies, transport, sustainable agricultural investments are priorities, says Georgieva
Egypt in good position economically to navigate COVID-19: Al-Mashat
Government is looking to continue with economic reforms and development plans despite global slowdown
IMF faces extraordinary pressures on financial facilities due to COVID-19
Egyptian authorities aim to strengthen successful economic stabilisation programme with further IMF support, says Azour
Egypt requests IMF financial, technical support to fight COVID-19: Madbouly
Foreign exchange reserves can withstand the crisis for over two years, says Amer
IMF approves new liquidity line to enhance global financial safety net
Short term liquidity facility aims to reduce impact of COVID-19
103 countries approach IMF for COVID-19 emergency finance
Fund’s executive board to consider half of requests by end-April, says Georgieva
IMF warns of Middle East debt amid COVID-19 battle
Regional economies have been blindsided by health emergency and oil price crash, says Bloomberg
Al-Mashat highlights Egypt’s COVID-19 measures at G-24 meeting
The across-the-board economic declines have hit these countries particularly hard, with governments having to spend heavily on health and social protections.
Fiscal policy key to saving lives during COVID-19 pandemic: IMF’s Mauro to DNE
Policymakers should offer emergency protection lifelines through temporary, timely, and targeted fiscal measures, says IMF’s Deputy Director of Fiscal Affairs
COVID-19 causes major increase in fiscal deficits, public debt ratios: IMF
Transparency is crucial to managing fiscal risks, says Fiscal Monitor report
IMF, Egyptian authorities in discussions on COVID-19 containment
Country yet to submit financial support request, says Azour
Sub-Saharan Africa’s economy to contract by 1.6%: IMF
Decline due to coronavirus outbreak, lower-than-expected commodity prices, says report
IMF praises Egypt’s proactive measures against COVID-19
Egypt supports affected firms in tourism, exporting sectors, says report
Africa’s COVID-19 infections accelerate; IMF offers debt relief in continent
Total of 15,249 confirmed infections, 816 fatalities across continent so far