Standby Agreement Imf

The agreement «is important at this stage to continue to support market and investor confidence in the Egyptian economy`s ability to cope with the effects of coronavirus and the resumption of these effects, in addition to preserving the benefits of the economic reform programme that has been welcomed by all international institutions,» Egypt`s finance ministry said in a separate statement on Friday. Structural adjustment programmes have long been criticized as excessive savings measures in the recipient country in exchange for financial assistance. These criticisms have been less pronounced in recent years, particularly since 2009, when the IMF`s SBA policy was modified to better meet the needs of recipient countries. Greece, which came close to a sovereign debt crisis in 2010 and 2011, may be an exception. The resulting significant reductions in public spending led to mass protests and riots. In this case, there is growing criticism of the requirements for euro membership, as significant financial aid also comes from other euro area countries, not from an IMF confirmation regime. [2] [3] [4] «If we conclude the talks in Washington in April, I think we could table an agreement on the IMF Board Approval Readiness Agreement in June,» he said, adding that good progress had been made in the talks since November. Egypt and the International Monetary Fund have reached a staff-level agreement on a $5.2 billion confirmation agreement to mitigate the economic benefits of Covid-19, the Washington-based lender said in a statement on Friday. The funding gap is «fully covered» by imf funding, other multilateral institutions or bilateral agreements, Deputy Central Bank Governor Rami Abulnaga said last month in an interview with Saudi television channel Al-Arabiya AMMAN (Reuters) — The International Monetary Fund could approve as early as June a reserve agreement (SBA) with which Iraq will release $15 billion in international aid over the next three years. the head of the IMF mission in Iraq said on Tuesday. «If the economic recovery is necessary, fiscal policy will have to try to revive the downward trend in public debt.