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

Father Arrested for Allegedly Forcing 13-Year-Old Daughter Into Marriage

Egyptian StreetsJuly 23, 2019

Algerian Fans Stir Chaos, Smash Glass Gates at Cairo Airport for Delayed Flights

Egyptian StreetsJuly 21, 2019

Outrage After British Airways Suspends All Cairo Flights

Egyptian StreetsJuly 20, 2019

Aswan’s Philae Island to Become a Touristic Attraction With Nubian-Inspired Hotel

Egyptian StreetsJuly 20, 2019

The Story of Amira, 15-Year-Old Girl Detained For Killing Her Rapist

Egyptian StreetsJuly 20, 2019

Algeria Crowned AFCON 2019 Champions After Beating Senegal 1-0

Egyptian StreetsJuly 19, 2019

Obligatory Anti-Divorce Courses to Begin in Egyptian Universities

Egyptian StreetsJuly 18, 2019

Plastic Bags to Be Banned in Egypt’s Marsa Alam

Egyptian StreetsJuly 16, 2019
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.