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

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

August 10, 2020

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

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.

Series:

Country Report No. 2020/266

Subject:

Frequency:

regular

English

Publication Date:

August 10, 2020

ISBN/ISSN:

9781513553214/1934-7685

Stock No:

1EGYEA2020001

Format:

Paper

Pages:

100

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