TAG: Financial Services
The UAE was relatively well placed to withstand the sudden shock of the Covid-19 pandemic thanks to its diversified economy, record forex reserves, moderate public debt levels, high credit rating and strong net external asset position.
In the past several years Egypt carried out an IMF-backed reform programme to address the country’s fiscal position and improve the business and investment environment.
Alongside rising GDP and manageable public debt levels, Indonesia’s banks maintained robust performance in the six months leading to the pandemic. Monetary measures by the central bank to address headwinds in 2020 included lowering the reverse repo rate and purchasing government debt.