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

August 10, 2020

Preview Citation

Format: Chicago

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, (USA: International Monetary Fund, 2020) accessed November 21, 2024

Summary

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.

Subject: Budget planning and preparation, COVID-19, Credit, Debt service, External debt, Health, Money, Public debt, Revenue administration

Keywords: COVID-19, CR, Credit, Debt service, Draft bill, Global, Government priority, ISCR, Safeguards assessment of the Central Bank of Egypt, Staff's appraisal, Update to the safeguards assessment

Publication Details

Pages:

100
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/266
Stock No:

1EGYEA2020001
ISBN:

9781513553214
ISSN:

1934-7685

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