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"Flash-in-the-pan" development in Egypt? IMF-backed economic recovery stymied by absence of structural reforms and massive human rights violations
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Corporate Editor
Stiftung Wissenschaft und Politik -SWP- Deutsches Institut für Internationale Politik und Sicherheit
Abstract In November 2016, Egypt agreed a comprehensive aid programme with the International Monetary Fund (IMF). Its stated objective was to stabilize the country’s macroeconomic situation within three years and put it on track for inclusive economic growth. At the half-way stage, hardly any structural refo... view more
In November 2016, Egypt agreed a comprehensive aid programme with the International Monetary Fund (IMF). Its stated objective was to stabilize the country’s macroeconomic situation within three years and put it on track for inclusive economic growth. At the half-way stage, hardly any structural reforms have been implemented despite a short-term macroeconomic stabilization resulting from the conditions put in place. Rather, the increasingly influential military has prevented the emergence of a functioning market economy. This has been compounded by the disastrous human rights record of the government under President Abdel Fattah el-Sisi, which has also had a negative impact on Egypt’s economic development. Germany played a key role in the IMF agreement being concluded. The German government should, therefore, work to ensure the IMF produces a critical assessment of the reforms that have taken place so far. It should also link its willingness to support future aid packages with improving the human rights situation and strengthening civil society. (Autorenreferat)... view less
Keywords
economic development (on national level); economic reform; economic situation; public budget; IMF; Egypt; socioeconomic development; social participation; austerity policy
Classification
Economic Policy
Free Keywords
Ägypten; Wirtschaftslage; Wirtschaftliche Entwicklung; Sozioökonomische Entwicklung; Öffentlicher Haushalt; Öffentliche Verschuldung; Externe öffentliche Verschuldung; Finanzielle Auslandshilfe; Internationaler Währungsfonds, Internationale Geber; Politische Konditionalität; Wirtschaftsreformen; Soziale Partizipation; Entwicklungshemmnisse
Document language
English
Publication Year
2018
City
Berlin
Page/Pages
4 p.
Series
SWP Comment, 31/2018
ISSN
1861-1761
Status
Published Version; reviewed
Licence
Deposit Licence - No Redistribution, No Modifications