News & Analysis: Egypt
“Although distorted by low sampling numbers and blind spots, the findings highlight that Africa must not be left behind in the global pandemic response, otherwise it could become a source for new variants.”
“Ratings action from Fitch on Egypt’s Commercial International Bank (CIB) shows that the country’s banking sector is poised for recovery, analysts say.”
“As the third wave of the coronavirus pandemic sweeps across Africa, the continent has become the most vulnerable region hit by the more transmissible Delta variant of the disease due to lack of vaccines and health facilities.”
“Egypt was one of the few emerging market countries that experienced a positive growth rate in 2020. As a result of the government’s swift and prudent policy response, coupled with IMF support, the Egyptian economy showed resilience in the face of the pandemic.”
“Egypt will close stores, malls and restaurants to curb the spread of the coronavirus for two weeks from Thursday evening, straddling the last days of the Muslim holy month of Ramadan and the Eid celebrations, the prime minister said on Wednesday.”
“Egypt’s government said it was going to focus on boosting private sector growth, increasing exports and accelerating the digitization of the economy, as it outlined a three-year structural reform plan key to helping overcome the impact of the coronavirus pandemic.”
“Two agreements have been signed between the Egyptian Holding Company for Biological Products and Vaccines, and the Chinese company Sinovac Biotech for biopharmaceuticals, to manufacture the coronavirus vaccine in Egypt.”
“The ban on huge assemblies in mosques and charity banquets in streets remains in place but some sports events for students however have been allowed.”
“An in-depth analysis of Cameroon, Ecuador, Egypt and Nigeria and found mixed results in meeting the IMF’s transparency commitments. There remained inconsistencies in the types of measures to which governments committed, their implementation, and the role of the IMF in ensuring compliance. The transparency commitments in the emergency loans spurred all four governments to produce information about their spending and contracts that they would have otherwise not published. However, the amount, accessibility, and quality of the disclosed information varied widely and was inadequate for meaningful oversight for any of the four countries.”
“Egypt received 300,000 doses of a COVID-19 developed by China National Pharmaceutical Group in the early hours of Tuesday, the health ministry said in a statement.”
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