{"id":571476,"date":"2020-05-13T04:26:06","date_gmt":"2020-05-13T04:26:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/"},"modified":"2020-05-13T04:26:06","modified_gmt":"2020-05-13T04:26:06","slug":"imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/","title":{"rendered":"IMF\u2019s USD 2.8 bn pandemic aid lands in Egypt"},"content":{"rendered":"

<\/a> IMF\u2019s USD 2.8 bn pandemic aid lands in Cairo: <\/strong>Egypt took receipt of the IMF\u2019s USD 2.8 bn rapid financing instrument yesterday, only a day after the fund\u2019s executive board gave its approval, state news agency MENA reported<\/a>, quoting an unnamed central bank official. The facility will support the country\u2019s balance of payments and be used for \u201ctargeted and temporary spending\u201d to help the country grapple with the covid-19 pandemic that has ground the tourism sector to a halt and caused an exodus of foreign capital.<\/p>\n

Talks for more funding underway: <\/strong>Talks were scheduled to kick off yesterday for a separate stand-by arrangement (SBA<\/a>) that could see us receive an additional USD 4.5-5 bn, Vice Minister of Finance Ahmed Kouchouk said on Monday<\/a>. How much we end up receiving in SBA funding will depend on the IMF\u201ds assessment of our needs, ability to repay and track record with the fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

IMF\u2019s USD 2.8 bn pandemic aid lands in Cairo: Egypt took receipt of the IMF\u2019s USD 2.8 bn rapid financing instrument yesterday, only a day after the fund\u2019s executive board gave its approval, state news agency MENA reported, quoting an unnamed central bank official. The facility will support the country\u2019s balance of payments and be […]<\/p>\n","protected":false},"author":1,"featured_media":571477,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[107,7106,72,272,527,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-571476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-covid-19","tag-debt","tag-enterpriseam","tag-imf","tag-pandemic","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"11bab53b-215b-4264-9f9f-0134b47a0e99","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/5\/134.jpg","photo_position":"above","related_issue":[571471],"teaser":"","voice_url":""},"yoast_head":"\nIMF\u2019s USD 2.8 bn pandemic aid lands in Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF\u2019s USD 2.8 bn pandemic aid lands in Egypt\" \/>\n<meta property=\"og:description\" content=\"IMF\u2019s USD 2.8 bn pandemic aid lands in Cairo: Egypt took receipt of the IMF\u2019s USD 2.8 bn rapid financing instrument yesterday, only a day after the fund\u2019s executive board gave its approval, state news agency MENA reported, quoting an unnamed central bank official. The facility will support the country\u2019s balance of payments and be […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-13T04:26:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/134.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"IMF\u2019s USD 2.8 bn pandemic aid lands in Egypt\",\"datePublished\":\"2020-05-13T04:26:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/\"},\"wordCount\":162,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/5\/134.jpg?fit=%2C&ssl=1\",\"keywords\":[\"covid-19\",\"debt\",\"EnterpriseAM\",\"IMF\",\"pandemic\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/imfs-usd-2-8-bn-pandemic-aid-lands-in-egypt\/\",\"name\":\"IMF\u2019s USD 2.8 bn pandemic aid lands in Egypt - 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USD 2.8 bn through the IMF\u2019s new SDR allocation, which came into effect on 23 August: The International Monetary Fund (IMF) announced the disbursal of almost USD 650 bn in new special drawing rights (SDRs) \u2014 the largest allocation in\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/256.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571434,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/imf-greenlights-usd-2-8-bn-in-pandemic-aid-to-egypt\/","url_meta":{"origin":571476,"position":1},"title":"IMF greenlights USD 2.8 bn in pandemic aid to Egypt","author":"enterpriseam admin","date":"12 May 2020","format":false,"excerpt":"IMF greenlights USD 2.8 bn in pandemic aid to Egypt: The International Monetary Fund\u2019s executive board signed off yesterday on the USD 2.77 bn rapid financing instrument (RFI) the Madbouly government asked for last month to help support its balance of payments as Egypt grapples with fallout from covid-19. \u201cThe\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571948,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/07\/imf-gives-initial-nod-to-usd-5-2-bn-in-fresh-funding-to-egypt\/","url_meta":{"origin":571476,"position":2},"title":"IMF gives initial nod to USD 5.2 bn in fresh funding to Egypt","author":"enterpriseam admin","date":"7 June 2020","format":false,"excerpt":"IMF gives initial nod to USD 5.2 bn in fresh funding to Egypt: The IMF reached a staff-level agreement to provide Egypt with a one-year, USD 5.2 bn stand-by arrangement (SBA) to help the country withstand the economic fallout from the covid-19 pandemic, according to a statement on Friday. 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From misappropriated funds in at least three Latin American countries, to embezzlement in Congo, bns of borrowed USD were mismanaged, Transparency International policy officer for anti-corruption Theo Van der Merwe tells Bloomberg.While the IMF acted\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/478.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563371,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/29\/egypt-wont-need-to-tap-lenders-for-the-time-being-says-imf\/","url_meta":{"origin":571476,"position":4},"title":"Egypt won\u2019t need to tap lenders for the time being, says IMF","author":"enterpriseam admin","date":"29 June 2021","format":false,"excerpt":"Egypt does not need additional external financing at the moment thanks to structural policy and fiscal reforms that have course-corrected the economy, IMF mission chief Celine Allard said yesterday during a virtual press conference, Masrawy reports. Egypt, which completed a three-year, USD 12 bn IMF program in 2019, again tapped\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/361.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561542,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/12\/egypt-mena-to-face-higher-financing-needs-post-covid-imf\/","url_meta":{"origin":571476,"position":5},"title":"Egypt + MENA to face higher financing needs post-covid -IMF","author":"enterpriseam admin","date":"12 April 2021","format":false,"excerpt":"Rising financing needs in Egypt and MENA could threaten the post-covid recovery \u2014 and limit the scope for fiscal spending in a region scrambling to rebound from the pandemic, the IMF said in an update to its Regional Economic Outlook for the Middle East and Central Asia. 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