IMF Slashes Middle East and Central Asia Growth Forecasts

Mon, 13 Jul 2020 - 12:38 GMT

The latest projection is 2 percentage points lower than the fund's April estimate, the IMF said in its latest Middle East and Central Asia Economic Outlook.

IMF official: Egypt's economic reforms contributed to countering COVID-19 impacts

Wed, 08 Jul 2020 - 12:41 GMT

Ramakrishnan added that the IMF supports Egypt in its efforts to mitigate the coronavirus economic fallout on the most affected sectors.

Egypt to receive first tranche of IMF $5.2B loan during next few days

Mon, 29 Jun 2020 - 03:21 GMT

Abu El Naga clarified that the first tranche worth $2 billion.

IMF: Global economy to take $12tn hit from coronavirus

Thu, 25 Jun 2020 - 01:29 GMT

IMF said it expected the global economy to shrink 4.9 percent this year — a sharper contraction than the 3 percent it predicted in April.

IMF places Egypt among top 30 countries with strong economic performance

Wed, 24 Jun 2020 - 04:45 GMT

In its World Economic Outlook for June, the fund expected Egypt and China to achieve a positive growth in 2020 despite economic challenges posed by the novel coronavirus pandemic.

IMF predicts 'worse than anticipated' slowdown for global economy in 2020

Wed, 24 Jun 2020 - 02:43 GMT

This decline in growth in 2020 is expected to be followed by a partial recovery, with the growth seen at 5.4 percent in 2021.

Egypt’s renewed engagement with IMF to boost investor confidence: Fitch

Sun, 17 May 2020 - 09:46 GMT

IMF financing will provide some support for Egypt's foreign reserves and portfolio flows may be stabilizing.

Egypt negotiates on another financial package from IMF

Thu, 14 May 2020 - 09:12 GMT

On the $6 billion financing package expected from the IMF, Deputy Governor of the Central Bank of Egypt (CBE) said that negotiations haven’t ended yet.

Egypt receives $2.7 billion from IMF

Wed, 13 May 2020 - 11:02 GMT

The loan, which will be paid back over a period of five years, comes as part of the the Rapid Financing Instrument (RFI) program.

IMF statement on Egypt's emergency financial assistance approval

Mon, 11 May 2020 - 07:53 GMT

The Executive Board of the International Monetary Fund (IMF) approved Egypt’s request for emergency financial assistance of SDR 2,037.1 million ($2.772 billion)

IMF approves $2.77B in emergency pandemic aid for Egypt

Mon, 11 May 2020 - 06:56 GMT

The International Monetary Fund on Monday said its executive board approved $2.77 billion in emergency financing to help Egypt.

IMF says economic outlook worsened since forecast in April

Fri, 08 May 2020 - 12:52 GMT

"We know this crisis isn’t going away anytime soon," Gopinath said. "Things can get worse. The health crisis has not been solved."

IMF to mull Egypt's request for loan in May 11 meeting

Thu, 07 May 2020 - 11:52 GMT

In April, Egypt's Prime Minister Moustafa Madbouli asked the IMF for financial support to help the country deal with the new coronavirus outbreak.

Int'l institutions expect Egypt to achieve economic growth amid COVID-19 crisis: minister

Sun, 03 May 2020 - 01:32 GMT

The minister was addressing the House of Representatives' Plan and Budget Committee that convened to discuss the outlines of the fiscal year 2020/2021 plan.

Imran Khan praises Egypt’s support for Pakistan’s initiative of debt relief for developing countries

Thu, 30 Apr 2020 - 07:47 GMT

President Abdel Fattah El Sisi expressed Egypt’s keenness to push forward prospects of bilateral cooperation at all levels, particularly the economic one.

Capital Economics expects 7.5% depreciation of Egyptian Pound after turning to IMF

Tue, 28 Apr 2020 - 03:36 GMT

The report affirmed that the immediate concern for the IMF is likely to be the exchange rate.

Meetings on IMF’s new financial package to be held online: CBE

Mon, 27 Apr 2020 - 01:01 GMT

Negotiations do not require travelling to the Fund's headquarters in the American capital, Washington, due to the flight ban as a result of the consequences of the spread of COVID-19 (coronavirus).

IMF praises Egypt's measures confronting COVID-19, comments on new package request

Mon, 27 Apr 2020 - 12:46 GMT

Georgieva added that the Central Bank of Egypt has also implemented timely measures to support the domestic economy.

Value of IMF financial assistance agreement not yet agreed - CBE

Mon, 27 Apr 2020 - 11:56 GMT

Rami Abulnaga told MENA that negotiations are still underway to reach the agreement, set to be divided into two packages.

Goals behind Egypt’s new financial package request from IMF

Sun, 26 Apr 2020 - 03:17 GMT

Egypt Today reviews goals behind this request according to the announced data.