Diplomatic representation from the US: chief of mission: Ambassador
Daniel C. KURTZER
embassy: 5 Latin America St., Garden City, Cairo
mailing address: Unit 64900, APO AE 09839-4900
telephone: [20] (2) 795-7371
FAX: [20] (2) 797-2000
Flag description: three equal horizontal bands of red (top), white, and black with the national emblem (a shield superimposed on a golden eagle facing the hoist side above a scroll bearing the name of the country in Arabic) centered in the white band; similar to the flag of Yemen, which has a plain white band; also similar to the flag of Syria, which has two green stars, and to the flag of Iraq, which has three green stars (plus an Arabic inscription) in a horizontal line centered in the white band
Egypt Economy
Economy - overview: A series of IMF arrangements - along with massive external debt relief resulting from Egypt's participation in the Gulf war coalition - helped Egypt improve its macroeconomic performance during the 1990s. Sound fiscal and monetary policies through the mid-1990s helped to tame inflation, slash budget deficits, and build up foreign reserves, while structural reforms such as privatization and new business legislation prompted increased foreign investment. By mid-1998, however, the pace of structural reform slackened, and lower combined hard currency earnings resulted in pressure on the Egyptian pound and sporadic US dollar shortages. External payments were not in crisis, but Cairo's attempts to curb demand for foreign exchange convinced some investors and currency traders that government financial operations lacked transparency and coordination. Monetary pressures have since eased, however, with the 1999-2000 higher oil prices, a rebound in tourism, and a series of mini-devaluations of the pound. The development of a gas export market is a major plus factor in future growth.
GDP: purchasing power parity - $247 billion (2000 est.)
GDP - real growth rate: 5% (2000 est.)