Arab Republic of Egypt: Request for a 12-Month Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Arab Republic of Egypt

International Monetary Fund

No 2020/266, IMF Staff Country Reports from International Monetary Fund

Abstract: Egypt’s hard-won macroeconomic stability achieved during the three-year arrangement under the Extended Fund Facility (EFF) now faces a significant disruption due to the COVID-19 pandemic. Growth is expected to slow in both FY2019/20 and FY2020/21 as tourism has been halted and domestic activity curtailed. The external accounts have come under pressure due to capital outflows and the shock to tourism and remittances. The authorities responded with a broad package to scale up the health system’s capacity and policies to support the people and the economy.

Keywords: ISCR; CR; staff's appraisal; safeguards assessment of the Central Bank of Egypt; draft bill; update to the safeguards assessment; government priority; Debt service; Credit; Global; COVID-19 (search for similar items in EconPapers)
Pages: 100
Date: 2020-08-10
New Economics Papers: this item is included in nep-ara and nep-mac
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