International Monetary Fund

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.

Memory of the day

Sun, 27 Dec 2020 - 01:13 GMT

On December 27, many important events took place that changed the world, including the completion of the construction of the Hagia Sophia Cathedral and the signing of the agreement to build the Aswan High Dam.

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 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.

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.

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.

IMF expects Egypt's losses in tourism revenues to exceed 2% in 2020 due to COVID-19

Wed, 05 Aug 2020 - 02:27 GMT

This expectation is also implied on large net tourism exporters, such as Costa Rica, Greece, Morocco, New Zealand, Portugal, Spain, Sri Lanka, Thailand, and Turkey.

International Monetary Fund urges Egypt to proceed with monetary policy, successful reforms

Mon, 20 Jul 2020 - 10:24 GMT

Georgieva said the Egyptian state acted “very swiftly” once the coronavirus pandemic started to protect people and therefore protect the economy.

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.

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.