News

IMF ‘Supports’ Egypt’s Economic Reform Program

IMF ‘Supports’ Egypt’s Economic Reform Program

Source: Presidency Spokesperson

The International Monetary Fund’s (IMF) Managing Director Christine Lagarde reiterated her support for Egypt’s economic reform program, during her meeting with Egypt’s President Abdel Fattah Al-Sisi in Washington.

Lagarde asserted that the IMF will continue its support for the Egyptian economy and the reform program undertaken by the Egyptian government. She also described the program as a strong one that will help the economy return to its full potential.

Lagarde also said in a statement that the IMF is currently working to help the Egyptian government and the central bank bring inflation under control to protect the most vulnerable citizens.

Al-Sisi stressed during their meeting that Egypt is adhering to the full implementation of the program, adding that Egyptian people have shown patience and understanding to these tough measures as they believe that these reforms are mandatory.

The Egyptian President went on to say that Egypt is working on providing a good atmosphere for foreign investors and alleviating the bureaucratic procedures for investors to create more jobs and achieves more growth. Al-Sisi also added that Egypt is taking both administrative and legislative measures to enhance investments.

Egypt has undertaken several measures in 2016 to restore its economy after the discrepant and wide gap between US dollars in the black market and banks. The Central Bank of Egypt decided to float the currency, consequently leading to significant price hikes.

 

Sudan Imposes Entry Visa on Egyptian Men
Egypt Calls on Russia, U.S. to Help Reach Inclusive Solution to Syrian War

Subscribe to our newsletter


News

More in News

Egyptian Court Denies Adoptive Family Custody of ‘Baby Shenouda’, Citing Lack of Jurisdiction

Egyptian Streets19 March 2023

Khaled El-Balshy Elected as Head of Egypt’s Journalists Syndicate

Farah Rafik18 March 2023

Egypt’s Giza and Saqqara Among 2023 World’s Greatest Places: TIME

Egyptian Streets17 March 2023

Minister of Tourism and Antiquities: Egypt Recorded 11.7 Million Tourists in 2022

Dina Khadr16 March 2023

By 2024, Egyptians May Be Required to Speak French by Law

Dina Khadr15 March 2023

Egypt to Provide EGP 1,000 Annually for Egyptian Women to Curb Population Growth

Egyptian Streets15 March 2023

RiseUp Summit’s 10th Edition at the Grand Egyptian Museum: What You Need to Know

Farah Rafik14 March 2023

National Research Institute of Astronomy and Geophysics: Ramadan 2023 to Start on 23 March

Marina Makary12 March 2023