Arab Reinsurance Company: a new dimension
Home   |   Sitemap   |   Contact us
Follow us on
Is Climate Litigation Covered by Insurance? - Social Inflation or Science: What Is Fueling Climate Litigation? - Fortegra Europe Opens Branch in Czech Republic - Vantage launches Construction and Political risk business - UK Insurers Cautiously Willing to Underwrite Fire Safety Risks - Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada - Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P - Debt surge in emerging markets may hurt insurance outlook: Swiss Re - Zurich Insurance Weighs Selling Some Australian Non-Core Assets - Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds - Corvus, SiriusPoint announce investment & underwriting capacity partnership - Munich Re backs energy storage systems provider ESS - Climate Change Could Force 200 Million People to Leave Their Homes by 2050 - Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s - Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform - London Financial Employees Return to Offices Despite Rising Virus Cases - P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter - Britain Looks to Revisit Data Privacy Regulations - WTW, Applied Systems target real-time pricing enhancements - Reinsurance environment “most attractive in a decade”: SCOR’s Launay - Willis Towers Watson’s New CEO Says It Has $5 Billion for Possible Acquisitions - Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio - Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims - “Inflation is the enemy of the re/insurance industry,” says Swiss Re CFO Léger - Global Reinsurance Rates, Demand to Continue Rising in 2022: Moody’s - Prudential’s Michael Koller joins MS Amlin as Chief Risk Officer - Rates need to and will harden further: Swiss Re CEO Mumenthaler - Russia’s Renaissance Insurance Plans $1 Billion IPO in Moscow: Reuters
Search Search
World News & Events
Enlarge Font Minimize Font

Egypt - IMF expects to approve $1.6 bln in financing

Thursday, 05 27 2021, Category: Economy, Country: Egypt
The International Monetary Fund on Tuesday said it expects to provide an additional $1.6 billion in financing to Egypt after its executive board approves the funding in coming weeks.

The IMF said its staff reached agreement with Egyptian authorities about the additional funding after a second and final review of Egypt's economic program and a $5.2 billion 12-month stand-by arrangement.

"Egypt's economy has shown resilience, with the impact of the COVID-19 crisis mitigated by the authorities' swift, and balanced policy response," the IMF said in a statement.

It said Egypt's fiscal and monetary policies should continue to support the economic recovery, and called for additional efforts on the country's economic reforms.

The IMF said it was forecasting economic growth of 2.8% in fiscal year 2020/2021, and 5.2% in FY2021/22.

The IMF said Egypt met all its structural benchmarks, including steps to reform fiscal transparency and governance, social protection and improve the business environment.

But more efforts were needed to encourage exports by further reducing trade impediments and building a greener economy.

All copyrights reserved, Arab Reinsurance 2016 ©