Introduction 

After half a decade of instability, a stringent program of economic reforms – along with a strategy specifically targeted to develop and modernize Egypt’s petroleum industry – was urgently needed to retain international confidence in both the Egyptian economy and its petroleum sector.

The landmark $12 billion loan agreement signed between the International Monetary Fund (IMF) and the Egyptian government on November 11, 2016 was conditioned on a set of economic reforms designed to revive the stagnating economy. Following the approval of the loan, the IMF said that the program would return financial stability and stimulate economic growth across the economy.

The program essentially aims to return government debt to sustainable levels, improve Egypt’s foreign exchange market, raise the competitiveness of its investment climate, reduce the inflation rate, and control the balance of payments (BOP) and budget deficit. All those factors combined, in addition to the decreasing arrears to international oil companies (IOCs), are expected to increase foreign direct investment (FDI) inflows, specifically into exploration and production (E&P) activities.

Now, 20 months on, Egypt Oil & Gas examines the impact of the reform program on the petroleum sector.

This report investigates the impact of the IMF-backed economic reform program on the petroleum sector. It is the first report of its kind; bringing together and analyzing a wide range of data into one document. It features comparative analysis of IMF data and figures published by the Egyptian government, demonstrating the differing visions of Egypt’s economic trajectory. By connecting these pieces, Egypt Oil & Gas R&A sheds light onto the changes witnessed by the sector over the past two years. This will enable investors and industry stakeholders to make more informed decisions.

 

Table of Contents:

The IMF Loan Agreement
– Monetary Policy
– Fiscal Policy
– The Loan: Reviews and Tranches

Tackling the Budget Deficit
– Reducing Expenditures
– Maximizing Revenues

Monetary Policy
– Exchange Rate Liberalization
– Inflation
– Interest Rates
– Foreign Reserves
– Domestic and External Debt
– Arrears to International Oil Companies

Trade and Investment
– Balance of Payments
– Foreign Direct Investment

 

Report Details:

Publish Date: August 2018
Format: Hard/Soft Copy
Number of Pages: 52

 

Price:

Soft Copy: $500
Hard Copy: $550

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