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In a statement on Thursday, Maait said the emergency support will help the government finance those sectors that have been most impacted, including the health sector, and enhance social protection programmes.
Arab countries have been swift to act on the current health crisis, protect citizens and secure economic support
Washington backs Egypt’s request for emergency financial assistance from IMF
Egypt acts swiftly to allocate resources to health sector, provide support to severely impacted sectors, expand social safety net
Lebanon has submitted an official request to the IMF for funds for restructuring its public debt and implementing necessary reforms in the country.
The funds, which are 100% of the quota, will be made available for Egypt to address the economic impacts of the ongoing coronavirus (COVID-19) pandemic.
Green technologies, transport, sustainable agricultural investments are priorities, says Georgieva
Government is looking to continue with economic reforms and development plans despite global slowdown
Egyptian authorities aim to strengthen successful economic stabilisation programme with further IMF support, says Azour
Foreign exchange reserves can withstand the crisis for over two years, says Amer
Short term liquidity facility aims to reduce impact of COVID-19
Fund’s executive board to consider half of requests by end-April, says Georgieva
Regional economies have been blindsided by health emergency and oil price crash, says Bloomberg
The across-the-board economic declines have hit these countries particularly hard, with governments having to spend heavily on health and social protections.
Policymakers should offer emergency protection lifelines through temporary, timely, and targeted fiscal measures, says IMF’s Deputy Director of Fiscal Affairs
Transparency is crucial to managing fiscal risks, says Fiscal Monitor report
Country yet to submit financial support request, says Azour
Decline due to coronavirus outbreak, lower-than-expected commodity prices, says report
Egypt supports affected firms in tourism, exporting sectors, says report
Total of 15,249 confirmed infections, 816 fatalities across continent so far
Oil prices plummeted in face of weakening global demand
Banks reactivate programmes used during 2008 global financial crisis, says Adrian
Global economy to contract 3% in 2020 due to COVID-19: WEO
Middle East, Central Asia Department to hold briefing on 15 April
IMF Managing Director Kristalina Georgieva said that the IMF anticipates the worst economic fallout since the Great Depression.
Details of pandemic’s economic impact to be released 14 April
We have to expect a new model of economy after the crisis, says IMF Middle East and Central Asia Department Director
Challenge is even greater for low-income, emerging economies
Pressure on worldwide banking system is growing, says Adrian
Egyptian expat remittances, Suez Canal earnings, exports to fall