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The report noted that the global volume of goods trade in the first five months of 2020 was about 20% lower than that reported in 2019. The latest figures reflect a more abrupt contraction than that which was seen in the first five months of the global financial crisis in 2008.
Egypt undertook supportive measures for private sector and social, health care, to confront crisis
Regional GDP growth to recover to 3.4% in 2021, down from 4.2% in April forecast, says IMF
Global public debt reaching its highest level in recorded history, at over 100 percent of global GDP, in excess of post-World War II peaks
Remainder of SBA loan will be phased over two reviews
New IMF arrangement aims to help Egypt cope with the challenges posed by the novel coronavirus
Fund expects negative growth for all regions for first time in its history
The benchmark index EGX30 closed at 11,108 points, while the EGX70 EWI rose 3.09% to 1,259 points, and the EGX100 EWI rose 3.31% to 2,028 points.
Egypt’s foreign reserves fall to $36.0037bn in May, from $37.037bn in April, says CBE
Financing from Egypt’s international partners will be critical for key reform objectives, ensure reform success
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