Latest in Tag: IMF Highlight
Latest in Tag: IMF
IMF revises up projection for MENA region growth to 3.3% in 2021
Road to recovery in Middle East, Central Asia hinges on containment measures, access to and distribution of vaccines, among other aspects
Government affirms positive IMF reviews of Egypt’s economic progress
IMF praises Egyptian government’s provision of assistance to individuals, companies most affected by pandemic
IMF upgrades global growth forecast in 2021 to 5.5%, warns risks remain
Financial organisation maintains forecasts for growth in Middle East, Central Asia at 3% in 2021, raising forecast for 2022 to 4.2%
IMF places climate change at heart of its work: Managing Director
Combining steadily rising carbon prices with green infrastructure push can boost global GDP over next 15 years by about 0.7%: Kristalina Georgieva
World can gain $9trn during 2021-2025, if worldwide vaccination accelerated: IMF chief
Ensuring sustainable, inclusive recovery post-COVID-19, reversing divergence between rich and poor countries are main 2021 priorities, says Kristalina Georgieva
No sustainable post-COVID-19 recovery in MENA region without strong governance: IMF
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.
World lives in digital age, with three pluses, one minus: IMF
One minus refers to inequality in access to technology
IMF forecasts Egypt’s economy to record 2.8% growth in FY 2020/21
Egypt’s economy was heavily effected by coronavirus pandemic, which took it’s toll on tourism, and worker remittances, yet it avoided contraction
Egypt to draw $1.67bn under SBA as IMF completes first review of reform plan
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.
IMF urges G20 to jointly build foundations for better global economy
Georgieva’s comments came during the recent G20 summit, which took place virtually on 21-22 November, hosted by Saudi Arabia.
Egyptian President praises government’s performance in pandemic economy
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.
Egypt, IMF reach staff-level agreement on 1st review of 12-month SBA
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.
MENA region performed well in managing COVID-19 crisis:Â Jihad Azour
COVID-19 crisis is about disruption and acceleration, says IMF regional director
Global economy is facing deep recession due to COVID-19: IMF
The IMF said that these ongoing global forces and the current crisis can offer opportunities to build a better future for everyone
COVID-19 taught MENA region importance of economic, structural transformation’s social pillar: IMF
MENA region governments took homogenous measures to cushion slight drop in economic activities
Despite pandemic,Egypt’s fiscal outcome, primary surplus acceptable: IMF’s Azour
Drop in oil prices beneficial for Egypt, reducing import burden, says IMF’s MCD Region Director
Mahmoud Mohieldin elected to represent Egypt, Arab Group at IMF
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
IMF maintains Egypt forecast as only MCD country with positive 2020 growth
Egypt’s reform programme significantly contributed to improving general economic indicators, says Jihad Azour
2021 debt-to-GDP to reach around 65% in emerging markets: IMF
Georgieva mentioned that where debt is unsustainable, it should be restructured without delay. “We should move towards greater debt transparency and enhanced creditor coordination
Emerging, developing countries need estimated $2.5trn to meet needs: IMF
G24 calls for increased debt transparency, focus on growing financing needs of developing economies amid COVID-19
IMF’s 2021 growth projections for MENA worse than global average: Georgieva
More troubling, however, is the fund’s projections for 2021, which will see the region worse off compared to the global average projections.
COVID-19 could cost estimated $28trn in output losses over next 5 years: Georgieva
Faster progress on medical solutions could speed up post-pandemic recovery, potentially adding almost $9trn to global income by 2025, says IMF head
COVID-19 prompts $11.7trn in fiscal actions, or about 12% of global GDP: IMF
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.
Some global economies face debt distress, financial instability requiring official support: IMF
Most banks will be able to absorb losses, but there is a weak tail, says international organisation
Egypt`s economy to grow 2.8% in FY 2020/21, versus 3.5% growth estimate in 2019/20: IMF
IMF projects global growth of -4.4%, upward revision of 0.8% compared to June update
Global debt-to-GDP to reach 100% in 2020: IMF
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
Egypt’s real GDP to reach 6.4% in FY 2021/22: IMF Â
IMF downgrades expectations for Egypt’s FY 2020/21 financing needs to $42bn, up from $35.8bn pre-COVID-19 forecast in same period
Egypt’s real GDP growth projected to reach 6.5% in FY 2021/22: IMF
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
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