Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498306683
Total Pages : 85 pages
Book Rating : 4.4/5 (983 download)
Book Synopsis Arab Republic of Egypt by : International Monetary Fund. Middle East and Central Asia Dept.
Download or read book Arab Republic of Egypt written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2019-04-06 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses Argentina’s Fourth Review under the Extended Arrangement under the Extended Fund Facility (EFF). The paper highlights that Egypt’s macroeconomic situation has improved markedly since the initiation of the authorities’ reform program in November 2016. The liberalization of the foreign exchange market, prudent monetary policy, and ambitious fiscal consolidation has helped stabilize the macroeconomic environment. Growth has accelerated; external and fiscal deficits have narrowed; international reserves have risen; and public debt, inflation, and unemployment have declined. The external environment has shifted in recent months, posing new policy challenges. The tightening of global financial conditions and heightened global risk aversion have contributed to a pullback by investors from emerging markets. The outlook remains favorable, provided policies agreed under the program are implemented, but the balance of risks has shifted. The authorities’ prudent policies have been instrumental in preserving macroeconomic stability, even as the external environment has weakened notably. The IMF staff supports the authorities’ request for the completion of the fourth review under the Extended Arrangement under the Extended Fund Facility.