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Egypt
			: Beyond Stabilization. Toward a Dynamic Market Economy

Egypt : Beyond Stabilization. Toward a Dynamic Market Economy »

Series: Occasional Papers

Author(s): Howard Handy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

DOI: http://dx.doi.org/10.5089/9781557757203.084

ISBN: 9781557757203

Keywords: inflation, capital inflows, privatization, exchange rate, foreign currency

Determined macroeconomic policy, combined with favorable external developments, has reduced inflation, improved public finances, led to a stable currency, and helped strengthen the banking system in Egypt. Nonethel...

Back Matter

Back Matter »

Source: Egypt : Beyond Stabilization. Toward a Dynamic Market Economy

Series: Occasional Papers

Author(s): Howard Handy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

ISBN: 9781557757203

Keywords: inflation, capital inflows, privatization, exchange rate, foreign currency

Determined macroeconomic policy, combined with favorable external developments, has reduced inflation, improved public finances, led to a stable currency, and helped strengthen the banking system in Egypt. Nonethel...

Front Matter

Front Matter »

Source: Egypt : Beyond Stabilization. Toward a Dynamic Market Economy

Series: Occasional Papers

Author(s): Howard Handy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

ISBN: 9781557757203

Keywords: inflation, capital inflows, privatization, exchange rate, foreign currency

Determined macroeconomic policy, combined with favorable external developments, has reduced inflation, improved public finances, led to a stable currency, and helped strengthen the banking system in Egypt. Nonethel...

I Introduction

I Introduction »

Source: Egypt : Beyond Stabilization. Toward a Dynamic Market Economy

Series: Occasional Papers

Author(s): Howard Handy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

ISBN: 9781557757203

Keywords: inflation, capital inflows, privatization, exchange rate, foreign currency

By the standards of recent experience with economic stabilization, Egypt in the 1990s is a remarkable success story. Determined macroeconomic policy, together with some favorable external developments, has b...

II A Historical Examination of Growth, Investment, and Saving

II A Historical Examination of Growth, Investment, and Saving »

Source: Egypt : Beyond Stabilization. Toward a Dynamic Market Economy

Series: Occasional Papers

Author(s): Howard Handy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

ISBN: 9781557757203

Keywords: inflation, capital inflows, privatization, exchange rate, foreign currency

Egypt’s growth performance has been uneven. After growing rapidly during the 1970s and first half of the 1980s, output decelerated and generally fell short of population growth rates. Economic growth has rec...

III Current Fiscal Situation and Medium-Term Outlook

III Current Fiscal Situation and Medium-Term Outlook »

Source: Egypt : Beyond Stabilization. Toward a Dynamic Market Economy

Series: Occasional Papers

Author(s): Howard Handy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

ISBN: 9781557757203

Keywords: inflation, capital inflows, privatization, exchange rate, foreign currency

Fiscal consolidation has been a cornerstone of Egypt’s successful stabilization. 9 Over the recent period, new revenue sources were tapped while expenditures were curtailed, parti...

IV Inflation

IV Inflation »

Source: Egypt : Beyond Stabilization. Toward a Dynamic Market Economy

Series: Occasional Papers

Author(s): Howard Handy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

ISBN: 9781557757203

Keywords: inflation, capital inflows, privatization, exchange rate, foreign currency

Although Egypt’ inflation is approaching industrial country rates, its past record has been uneven. Until the early 1970s, inflation was low, averaging below 5 percent (see Figure 9). The situation changed i...

IX Modernizing Egypt’s Financial Markets

IX Modernizing Egypt’s Financial Markets »

Source: Egypt : Beyond Stabilization. Toward a Dynamic Market Economy

Series: Occasional Papers

Author(s): Howard Handy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

ISBN: 9781557757203

Keywords: inflation, capital inflows, privatization, exchange rate, foreign currency

This section analyzes the development of Egypt’s financial system, from state control through the reforms initiated during the 1990s. The results of the reforms are described together with the continuing eff...

V Capital Inflows: Managing Success

V Capital Inflows: Managing Success »

Source: Egypt : Beyond Stabilization. Toward a Dynamic Market Economy

Series: Occasional Papers

Author(s): Howard Handy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

ISBN: 9781557757203

Keywords: inflation, capital inflows, privatization, exchange rate, foreign currency

The increase of capital inflows into Egypt during the past two years represents a marked change in investor sentiment and a recognition in financial markets that there has been a fundamental improvement in e...

VI Sustainability of the Exchange Rate Regime

VI Sustainability of the Exchange Rate Regime »

Source: Egypt : Beyond Stabilization. Toward a Dynamic Market Economy

Series: Occasional Papers

Author(s): Howard Handy

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1998

ISBN: 9781557757203

Keywords: inflation, capital inflows, privatization, exchange rate, foreign currency

Over the past six years the Egyptian pound has moved in a 3 percent range vis-à-vis the dollar, and any upward or downward pressure on the exchange rate has been accommodated through passive intervention. Th...