Arab Republic of Egypt: Request for Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for the Arab Republic of Egypt
January 18, 2017
Download PDF
More Formats on IMF eLibrary
Order a Print CopyAlso available inالعربية
Also available inSummary
This paper discusses Egypt’s Request for Extended Arrangement Under the Extended Fund Facility (EFF). The EFF-supported program will help Egypt restore macroeconomic stability and promote inclusive growth. The risks to the program mainly emerge from the difficulties inherent in implementing a strong and wide-ranging reform program. Fiscal slippages could undermine the program’s debt sustainability objective. There is a risk that regional conflicts could intensify and domestic security conditions deteriorate, which could affect confidence, investment, and tourism. These risks are mitigated by the authorities’ commitment to the program. The IMF staff supports the authorities’ request for the EFF arrangement.
Subject: Energy subsidies, Expenditure, External debt, Foreign exchange, Public debt, Revenue administration
Keywords: ambitious goal, authority, business tax regime, CR, deficit, economy, Egyptian pound, Energy subsidies, Global, government from the overdraft facility, ISCR, licensing regime, overvalued exchange rate, rate, state guarantee
Pages:
83
Volume:
2017
DOI:
Issue:
017
Series:
Country Report No. 2017/017
Stock No:
1EGYEA2017001
ISBN:
9781475566901
ISSN:
1934-7685
