The executive board of the International Monetary Fund (IMF) completed the first review of Egypt’s economic reform program supported by the 12-month Stand-By Arrangement (SBA) allowing Egypt to draw the second tranche worth USD1.67bn (SDR1.16bn), bringing total disbursements...

... under the SBA to about USD3.6bn, it announced in a statement. Egypt has managed well the economic disruptions incurred by COVID-19 by adopting proactive measures to address health and social needs and by supporting the most affected sectors, it added. There are still...

...  risks to the outlook in light of a second wave of the pandemic and the uncertainty about the pace of domestic and global recovery. Sustained progress on structural and governance reforms is essential to foster more inclusive private-sector-led growth, including...

...  continued focus on enhancing the transparency of state-owned enterprises, ensuring a level playing field for all economic agents, and removing bureaucratic obstacles to private sector development, it added. (IMF, Bloomberg)

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