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, AfDB, AFESD, AG (observer), AL, AMF, BSEC (observer), CAEU, CCC, EBRD, ECA, ESCWA, FAO, G-15, G-19, G-24, G-77, IAEA, IBRD, ICAO, ICC, ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, IOM, ISO, ITU, MINURSO, NAM, OAPEC, OAS (observer), OAU, OIC, OSCE (partner), PCA, UN, UN Security Council (temporary), UNAVEM III, UNCTAD, UNESCO, UNIDO, UNITAR, UNMIBH, UNMOP, UNOMIG, UNOMIL, UNPREDEP, UNRWA, UNTAES, UPU, WFTU, WHO, WIPO, WMO, WToO, WTrO Diplomatic representation in the US: chief of mission: Ambassador Ahmed Maher El SAYED chancery: 3521 International Court NW, Washington, DC 20008 telephone: [1] (202) 895-5400 FAX: [1] (202) 244-4319, 5131 consulate(s) general : Chicago, Houston, New York, and San Francisco Diplomatic representation from the US: chief of mission: Ambassador Edward S. WALKER, Jr. embassy: (North Gate) 8, Kamel El-Din Salah Street, Garden City, Cairo mailing address: Unit 64900, APO AE 09839-4900 telephone : [20] (2) 3557371 FAX: [20] (2) 3572000 branch office: Alexandria 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 that 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 Economy Economy - overview: By the end of the 1980s Egypt - hit by the collapse of the world oil market and servicing a foreign debt totaling about $50 billion - faced crises in virtually all economic sectors. Problems of low productivity and poor economic management were compounded by the adverse social effects of large population growth rates, high inflation, and massive urban overcrowding. In the face of these pressures, in 1991, Egypt undertook wide-ranging macroeconomic stabilization and structural reform measures. This reform effort has been supported by three successive IMF arrangements, the last of which was concluded in October 1996. Egypt's reform efforts - and its participation in the Gulf war coalition - also led to massive debt relief under the Paris Club arrangements. Egypt's foreign debt fell to about $31 billion at yearend 1996. Although the pace of reform has been uneven a
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