IMF raises its forecast for Egypt's economy growth to 2.8% in 2020/21

Sun, 10 Jan 2021 - 03:38 GMT

IMF expected the growth of the Egyptian economy by about 5.5 percent during the fiscal years 2021/2022 and 2022/2023.

IMF lauds Egypt's measures to contain COVID-19 pandemic impacts

Fri, 08 Jan 2021 - 02:26 GMT

International Monetary Fund (IMF) has lauded Egypt's measures to address the impacts from the outbreak of the Covid-19 pandemic.

IMF says Egypt's portfolio flows 'recovering'

Fri, 08 Jan 2021 - 02:23 GMT

Egypt's portfolio flows are recovering, with reported net inflows of more than $9 billion between June and October—following more than $15 billion in outflows during March/April— reflecting attractive domestic yields with 90-day T-bills at around 13.5 percent, International Monetary Fund (IMF) said Thursday.

Egypt should continue its economic reform program: IMF

Wed, 23 Dec 2020 - 02:19 GMT

Mohieddin added in a TV interview that this includes increasing the country's investments in the sectors of health care, education and infrastructure to achieve sustainable and long-term growth.

IMF board completes first review under Stand-By Arrangement for Egypt

Sat, 19 Dec 2020 - 12:01 GMT

The 12-month SBA in the amount about US$5.2 billion was approved by the Executive Board on June 26, 2020 to support the authorities’ economic reform program during the COVID-19 crisis.

IMF plans to disburse $1.6 billion to Egypt as part of $5.2 billion loan, hails its economy performance

Thu, 19 Nov 2020 - 09:32 GMT

The IMF staff team and the Egyptian authorities have reached a staff-level agreement on the first review of Egypt’s economic program supported by the IMF’s $5.2 billion Stand-by Arrangement

IMF executive director: all countries negatively impacted by coronavirus pandemic

Mon, 26 Oct 2020 - 12:34 GMT

​IMF is shouldering big responsibilities pertaining to increasing investments and following up the foreign debts worldwide, he explained.

Egypt’s Mahmoud Mohieldin elected as executive director of International Monetary Fund

Mon, 19 Oct 2020 - 10:05 GMT

Egyptian candidate Mahmoud Mohieldin was elected unanimously as the executive director of the International Monetary Fund (IMF) and, accordingly, an IMF board representing the country and Arab states.

Egypt sole oil-importing Middle Eastern country to grow in positive in FY2020/2021: IMF

Mon, 19 Oct 2020 - 04:08 GMT

The growth of those countries combined is expected to be -1% down from 2.8% in 2019.

Egypt to be only country in MENA region achieving positive economic growth in FY20/21: IMF

Mon, 19 Oct 2020 - 12:57 GMT

That is by virtue of the economic reform program undertaken by the state since 2016.

Minister displays Egypt's economic performance during COVID-19 crisis in IMF, WBG meetings

Sun, 18 Oct 2020 - 12:59 GMT

In one of the 2020 Annual Meetings of the International Monetary Fund and the World Bank Group, Minister of Finance Mohamed Mait displayed figures on the performance of the Egyptian economy during the COVID-19 crisis and plans for the future.

Egypt is only emerging country to achieve positive growth, according to IMF: Maait

Wed, 14 Oct 2020 - 12:02 GMT

Ma’it clarified that this came as a result of the fruitful economic reforms that the government undertook with strong political will, and the support of the Egyptian people.

IMF raises expectation for Egyptian economy growth to 3.5% in 2020

Tue, 13 Oct 2020 - 03:38 GMT

At the same time, it expected that the Egyptian economy would achieve growth rates of 5.6 percent over the medium term by 2025.

Egypt highlights external debt decline, institutions positive expectation for state

Sun, 04 Oct 2020 - 03:25 GMT

Egypt succeeded in reversing the external debt curve, to record a decline for the first time in more than 4 years.

IMF praises Egypt's measures in response to COVID-19 crisis

Tue, 29 Sep 2020 - 02:15 GMT

The research noted that targeted cash transfers were also set up to reach vulnerable families.

IMF: Egypt's banking sector "stable" despite COVID-19 repercussions

Wed, 02 Sep 2020 - 11:43 GMT

In a report released on Tuesday, the IMF said that the Egyptian banking system is liquid and well capitalized, with strong profitability and asset quality.

IMF expects Egyptian growth rate to hit 6.4% in FY 2021/2022

Wed, 02 Sep 2020 - 11:37 GMT

The IMF issued a report on Tuesday on the files related to Egypt's obtaining of an emergency financial assistance of dlrs 2.77 billion to meet the urgent balance of payments needs stemming from the outbreak of the COVID-19 pandemic.

IMF hails latest developments of CBE in various sectors

Wed, 26 Aug 2020 - 01:53 GMT

This came after holding a number of online meetings between the members of the IMF mission and representatives of CBE from June 15 until June 29.

Egypt's banking system remained stable during COVID-19 pandemic: IMF

Tue, 11 Aug 2020 - 12:58 GMT

The system was liquid, profitable, and well capitalized heading into the crisis, but risks around banks’ loan portfolios, capital costs, and profitability have increased due to the economic slowdown.

IMF expects Egypt's GDP to dip to 2% in 20/21, rebound to 6.5% in 21/22

Tue, 11 Aug 2020 - 11:33 GMT

IMF clarified that this percentage came as the global recovery is now expected to be more gradual and domestic activity is projected to remain weak for longer.