EGYPT-EU INVESTOR CONFERENCE SESSION REPORT Session Title: What’s in it for the private sector in the EGY IMF, EU MFA programs KEY TAKEAWAYS Significance of the EU MFA Program: • The EU MFA program is designed to support economic stability and foster private sector-led growth in Egypt, with a focus on competitive neutrality and structural reforms. IMF Program Reforms: • Key reforms under the IMF program aim to maintain macroeconomic stability, improve the business environment, and attract foreign direct investment through low inflation, exchange rate flexibility, and strong public finances. Implementation of Economic Measures: • The Egyptian government has implemented measures to ensure economic stability, including capping public investment, improving government reporting, and ending preferential lending practices. Macroeconomic Stability: • Reforms introduced since the last IMF review have positively impacted exchange rate stability, inflation reduction, and public debt management, contributing to a more stable economic environment. Coordination of Structural Reforms: • Effective coordination across government entities is essential for the successful implementation of structural reforms, which are necessary for improving the business environment and attracting investment. Factors Attracting Investment: • Macroeconomic stability, legal certainty, a level playing field, and strong institutions are key factors that attract and convince investors to expand operations in Egypt. Youtube Link: https://lnkd.in/dZ9dbR67
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As global economic dynamics continue to evolve, the International Monetary Fund (IMF) plays a crucial role in providing financial assistance to countries facing economic challenges. One important aspect of this assistance is the provision of loans to member countries to help stabilize their economies and address financial imbalances. As a result, countries accumulate debt to the IMF, reflecting their reliance on external financial support. GhanaWeb Business delves into the top 10 countries with the most debt to the IMF, shedding light on the magnitude of their financial obligations and the implications for their economic outlooks. Ghana is however ranked among these top countries that have accumulated the most debt owed to the Fund. The list is generated from the IMF's latest debt data. See the full list below 1. Egypt Egypt owes the IMF $11 billion. 2. Angola Angola owes the IMF $3 billion. 3. Kenya Kenya owes the IMF $3 billion. 4. Ghana Ghana owes the IMF $2 billion 5. Cote D’Ivoire Cote D’Ivoire owes the IMF $2 billion. 6. Argentina Argentina owes the IMF $32 billion. 7. Colombia Colombia owes the IMF $3 billion. 8. Ecuador Ecuador owes the IMF $6 billion 9. Ukraine Ukraine owes the IMF $9 billion. 10. Pakistan Pakistan owes the IMF $7billion.
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In a noteworthy development, the Executive Board of the International Monetary Fund (IMF) has successfully concluded the first review of Pakistan's economic reform program today, which is backed by the International Monetary Fund's Stand By Arrangement (SBA). #IMFReview #EconomicReform #PakistanEconomy #IMFProgram #StandByArrangement #EconomicDevelopment #FinancialNews #IMFSupport https://lnkd.in/d5YWZQPn
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Egypt and the International Monetary Fund finalized an expanded $8 billion agreement, signifying a crucial advancement in Egypt’s economic stabilization efforts, supported by Fund Mission Chief for Egypt, Ivanna Vladkova Hollar. Prime Minister Moustafa Madbouly underscores the government’s focus on rationalizing expenditure and promoting private sector investment in line with Egypt’s reform agenda following the IMF agreement. #EgyptEconomicStabilization #IMFDeal #IvannaVladkovaHollar #MadboulyReformAgenda #PrivateSectorInvestment #EconomicDevelopment
Egypt Finalizes Agreement with IMF, Bringing Total Bailout Amount to 8 USD Billion
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Advisor to the Minister of Finance for International Financial Institutions at Ministry of Finance | Egypt
✨The IMF Executive Board approved on Friday the 29th of March 2024 the first and second reviews of Egypt’s EFF program, triggering an augmentation of about $5 billion to the financing, to reach $8.0 billion. This would allow the Egyptian government to receive an immediate transfer of $820 million in April 2024. 📉The economic program centers around a strong economic stabilization plan, with tools such as a liberalized foreign exchange system, a significant tightening of monetary policy you target inflation, reducing public investment, and leveling the playing field to allow the private sector to become the engine of growth. 🇪🇬 The Government of Egypt remains committed to implementing the necessary economic policies under the program remains critical to address macroeconomic challenges. Robust delivery on structural reforms will be critical to lock in the benefits of the improved financing environment. #egypt #imf #reforms #ceasefirenow #stopthegenocide #freepalestine #freegaza
IMF Executive Board Completes the First and Second Reviews of Extended Fund Facility Arrangement for Egypt, Approves Augmentation of the Arrangement
imf.org
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🎅 The International Monetary Fund (IMF) has closely monitored Egypt’s economic landscape. Here are some key insights regarding Egypt’s monetary policy and inflation outlook: 1. Projected Real GDP Growth: - In 2023, Egypt is expected to achieve a 4.2% growth in its real GDP1. - Looking ahead, the IMF anticipates that Egypt’s economy will grow by 5.9% in the fiscal year 2025/2026. 2. Consumer Price Inflation: - The projected consumer price inflation for 2023 is 23.5%. - However, the IMF has raised its projections for Egypt’s inflation in 2023 and 2024 to 24.4% and 32%, respectively3. These figures are higher than the initial projections made in April. - Despite these challenges, the IMF expects inflation to gradually cool off due to Egyptian authorities’ actions and reforms. By the fiscal year 2024/2025, inflation is projected to fall back to around 7%. 3. Recent IMF Arrangement: - In December 2022, Egypt secured a 46-month staff-level agreement with the IMF under the Extended Fund Facility (EFF), entailing a loan of approximately $3 billion. These insights provide a snapshot of Egypt’s economic trajectory, emphasizing the importance of prudent monetary policies and ongoing reforms. 🌟 Sources: www.imf.org, www.egypttoday.com, https://lnkd.in/dWfc_e2g
International Monetary Fund - IMF
imf.org
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The International Monetary Fund said on Thursday that it reached a staff-level agreement with Egypt on the third review of an expanded IMF loan programme, which would disburse about $820m to Cairo upon board approval. The IMF said in a statement that Egypt’s efforts to restore macroeconomic stability are making some progress, despite a difficult regional environment. #Egypt #IMF #economy
Egypt will have access to about $820m subject to IMF Board approval, fund says
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Turkey's turbulent landscape offers investors a mix of risk and reward. Through strategic positioning, seizing opportunities is possible, despite the challenges. Thornburg's Mahmut Mustafa Arikan explains: https://ow.ly/xHtV50RtEsS #investing
Investing in Turkey? Opportunities Exist Among All the Challenges
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IMF predicts Angola’s Economic recovery in the short term The Executive Board of the International Monetary Fund confirmed that 2023 was a difficult year with many challenges, but that the foundations for recovery in 2024 and contributions from 2025 have been laid. The Executive Board of the International Monetary Fund (IMF) expects economic growth in Angola to recover in the short term. This scenario will result in improved oil production and the recovery of the non-oil sector. The information is contained in the final... Read more on the link below https://lnkd.in/gA6k6y2w
IMF predicts Angola’s Economic recovery in the short term
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