Last Update 17:25
Saturday, 10 April 2021
Economy
Nabar said that $1.9 trillion support package is expected to boost the level of US GDP by about five percent over 2021-2023 with significant spill overs to the rest of the world
Matsunaga said that Egypt has been successful in dealing with the COVID-19 pandemic, and has been ranked first in Africa and third in the Middle East
Paymob said in a statement that it will use the proceeds to continue expanding its merchant network, meet the increasing demand, enhance its suite of products further, and fuel its regional expansion efforts.
Malpass said that green investments and zero-carbon projects will help developing countries, including Egypt, boost their economic growth through these investments revenues, and thus contribute in curbing elevating debt
The IMF managing director says faster progress in ending the health crisis caused by the COVID-19 pandemic could add almost $9 trillion to global GDP by 2025
On the banking system, Egyptian banks face asset-quality deterioration and continued pressure on profitability through 2021 driven by the economic fallout from the pandemic, according to the report
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CBE inflation calculations show that the annual headline inflation rate remained stable at 4.5% in March 2021
Adrian added that policy makers in such markets, including Egypt, have to provide a kind of framework that includes instruments to secure the required liquidity for SMEs
The IMF also approved new loan resources worth $24 billion for the poverty reduction and growth trust instruments as well as pledging $773 billion as extra grants to the CCRT instrument, according to the policy agenda.
According to the report, the currencies of major emerging markets have gained against the dollar since the last issue of the global financial stability report, released in October, but has faced notable turbulence in early 2021
The decline was prompted by regional developments and concerns over expected decisions of the International Monetary Fund and World Bank on global economy
G-24 said that that International assistance for developing countries has fallen short of their estimated $2.5 trillion in additional financing needs
This disbursement is part of the EU’s overall contribution of €183 million ($215 million) to the CCRT, financing grants for the third tranche of CCRT debt service relief that was approved recently by the IMF´s executive board.
'The PMI has also now been above the 50.0 no-change mark in each of the latest four months, signalling increased momentum in the economy’s recovery,' said David Owen, economist at survey compiler IHS Markit
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