Latest in Tag: IMF Highlight
Latest in Tag: IMF
Road to recovery in Middle East, Central Asia hinges on containment measures, access to and distribution of vaccines, among other aspects
IMF praises Egyptian government’s provision of assistance to individuals, companies most affected by pandemic
Financial organisation maintains forecasts for growth in Middle East, Central Asia at 3% in 2021, raising forecast for 2022 to 4.2%
Combining steadily rising carbon prices with green infrastructure push can boost global GDP over next 15 years by about 0.7%: Kristalina Georgieva
Ensuring sustainable, inclusive recovery post-COVID-19, reversing divergence between rich and poor countries are main 2021 priorities, says Kristalina Georgieva
The Middle East and North Africa (MENA) region will be unable to envisage a strong and sustainable recovery following the novel coronavirus (COVID-19) pandemic, unless there is a strong governance framework.
One minus refers to inequality in access to technology
Egypt’s economy was heavily effected by coronavirus pandemic, which took it’s toll on tourism, and worker remittances, yet it avoided contraction
The 12-month SBA, totalled SDR 3.763bn (about $5.2bn at the time of approval), was approved by the IMF Executive Board on 26 June 2020 to support the authorities’ economic reform programme during the COVID-19 crisis.
Georgieva’s comments came during the recent G20 summit, which took place virtually on 21-22 November, hosted by Saudi Arabia.
Egyptian Presidency Spokesperson Bassam Rady said, on Sunday, that Al-Sisi’s statements came during his meeting with Prime Minister Mostafa Madbouly, Minister of Finance Mohamed Maait, and Deputy Finance Minister for Financial Policies Ahmed Kouchouk.
The meeting was held to discuss recent economic developments and policy priorities of the first review for Egypt’s economic program supported by the IMF’s 12-month SBA.
COVID-19 crisis is about disruption and acceleration, says IMF regional director
The IMF said that these ongoing global forces and the current crisis can offer opportunities to build a better future for everyone
MENA region governments took homogenous measures to cushion slight drop in economic activities
Drop in oil prices beneficial for Egypt, reducing import burden, says IMF’s MCD Region Director
Mohieldin nomination came after an agreement between the 11 Arab Group members at the IMF. he will assume the new IMF position by the end of this month
Egypt’s reform programme significantly contributed to improving general economic indicators, says Jihad Azour
Georgieva mentioned that where debt is unsustainable, it should be restructured without delay. “We should move towards greater debt transparency and enhanced creditor coordination
G24 calls for increased debt transparency, focus on growing financing needs of developing economies amid COVID-19
More troubling, however, is the fund’s projections for 2021, which will see the region worse off compared to the global average projections.
Faster progress on medical solutions could speed up post-pandemic recovery, potentially adding almost $9trn to global income by 2025, says IMF head
The data was released in an IMF report on Wednesday, entitled “Fiscal Monitor: Policies for the Recovery”, during the IMF and World Bank’s annual meetings.
Most banks will be able to absorb losses, but there is a weak tail, says international organisation
IMF projects global growth of -4.4%, upward revision of 0.8% compared to June update
IMF provides over $280bn in financing at unprecedented speed and scale to 81 countries, of which more than one third has been approved since March
IMF downgrades expectations for Egypt’s FY 2020/21 financing needs to $42bn, up from $35.8bn pre-COVID-19 forecast in same period
Inflation expected to jump to about 8% on average in FY 2020/2021, from 5.8% y-o-y in FY 2019/20, says IMF
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 undertook supportive measures for private sector and social, health care, to confront crisis