Key Highlights of the IMF’s 3rd Review

Special Report

Published: July 2018

  • 7 Pages
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Summary

On July 2nd, 2018, the International Monetary Fund (IMF) published the results of the third review under the Extended Fund Facility (EFF). The completion of the third review allowed the disbursement of USD 2 bn to the Government of Egypt (GoE), bringing total disbursements to date to USD 8 bn out of USD 12 bn. The review results not only presented the IMF’s assessment of Egypt’s progress with economic reforms and measures, but also, more importantly, shed light on the government’s policy agenda, reform priorities and implementation limitations. Extracting such important insights from the review results help guide medium term expectations, potentially providing answers to common concerns for the business community, including timings and magnitude of further fuel subsidy cuts, monetary policy direction, and planned investment climate reforms. Hence, in this brief report, Dcode EFC presents main synopsis of the report and important takeaways of concern to our clients and partners.


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