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

Egypt Loses 3-1 to World Cup Hosts in Fierce Match

Youssef AwwadJune 19, 2018

Mohamed Salah ‘Among Starting XI’ in Egypt-Russia World Cup Match

Egyptian StreetsJune 19, 2018

Trump’s Separation Migrant Policy Places Children in ‘Cages’

Jana Bou MatarJune 19, 2018

Egypt Offers Free Train Seats for Cancer Patients

Egyptian StreetsJune 19, 2018

Man Killed While Swimming in Luxurious Hacienda Bay

Seif GhallabJune 17, 2018

Fuel Price Hike Prompts Increase in Public Transportation Fares

Egyptian StreetsJune 17, 2018

Fuel and Cooking Gas Prices Surge In Egypt

Jana Bou MatarJune 16, 2018

“Egypt Won!”: Egyptians ‘Proud’ Despite World Cup Loss to Uruguay

Egyptian StreetsJune 16, 2018
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2017 Egyptian Streets. All Rights Reserved.