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 16, 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:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2020/266
Stock No:

1EGYEA2020001
ISBN:

9781513553214
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports