India has had a relatively low case number given the size of the country—just over 10,000 infections and fewer than 360 deaths—but the government will want to ensure that there is a lower chance of the virus spreading. The S&P 500 index and the Euro Stoxx 600 index added +3.1% and +0.6% respectively. Egypt must entrench the stability attained thus far. - 01.10.2020. This entails preserving the flexibility of the exchange rate and further reducing inflation. More fiscal support may be required in the coming months. IMF Country Focus; Egypt: Time to Entrench Growth and Make It More Inclusive. Egypt’s Minister of Planning and Economic Development Hala al-Saeed said Egypt's Gross Domestic Product (GDP) had achieved growth of 5.6 percent during the first half of the 2019/2020 fiscal year, during a ministerial meeting Wednesday discussing economic and social issues. The reforms, supported by a US$ 12 billion EFF arrangement from the IMF, are aimed at achieving more sustainable, inclusive, and private-sector-led growth that will improve the living standards of all Egyptians.  REPORT: Request for a 12-Month Stand-By Arrangement for the Arab Republic of Egypt More Key Questions on Egypt, updated June 2020 To support the homegrown reforms, in November 2016 the government initiated an IMF-supported arrangement to restore the stability of the country’s finances and promote growth and employment, while shielding lower-income households from the adverse effects of the changes. According to reports, Saudi Aramco in in early talks with banks for a loan of USD 10bn to finance its purchase of Sabic. At that time, the Egyptian economy was projected to decrease growth … The IMF slashed global growth projections for 2020 in its latest World Economic Outlook, expecting global GDP to contract by 3% this year, the worst annual performance since the Great Depression of the 1930s. Private non-oil sector contracted more than 10 percent year on year. Egypt’s real GDP will reach 6.4% in fiscal year (FY) 2021/22, and 2.8% by the end of the current FY, the International Monetary Fund (IMF) announced in its latest staff country report. 08.10.2020, Our regional MENA roundup for the third quarter. Egypt’s economic reforms have helped strengthen growth, reduce unemployment, increase foreign exchange reserves, and put public debt on a downward path. The fund anticipates a contraction in both developed (-6.1%) and emerging markets (-1%), unlike the 2008-09 financial crisis when emerging markets still managed to record some growth. Treasuries closed higher even as equities rallied hard. Meanwhile, Egypt’s GDP grew 5.6 percent, with Saeed attributing the figure to ongoing growth in the country’s oil refining, telecommunications, construction and building, and tourism sectors. The IMF also expects the current account deficit this year to reach 2.4% of GDP, as in 2018, unchanged from the IMF’s projection in October 2018. Budget deficits are also all projected to widen sharply this year, with Oman and Bahrain likely to be the largest in the GCC at -16.9% of GDP and -15.7% of GDP respectively. It was a largely positive day for the AUD and despite some volatility, it currently sits at 0.6410 which is over a 0.90% increase, but the currency looks to be in a downtrend in the early hours of this morning.