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
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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
Pages:
100
Volume:
2020
DOI:
Issue:
266
Series:
Country Report No. 2020/266
Stock No:
1EGYEA2020001
ISBN:
9781513553214
ISSN:
1934-7685
