Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued a statement on the eighth anniversary of Egypt’s 25 January Revolution applauding the patience and commitment of the Egyptian people in light of Egypt’s “ambitious economic reform”. In a statement released on the IMF’s website, Lagarde highlighted the achievements of Egypt’s economic reform to date and reiterated the IMF’s continued support of Egypt. “The Egyptian authorities embarked on an ambitious economic reform program in 2016 that is being supported by an IMF financial arrangement. Since then, Egypt has made substantial progress as evident in the success achieved in macroeconomic stabilization,” said Lagarde in her statement. “Its growth rate is now among the highest in the region, the budget deficit is on a declining trajectory, and inflation is on track to reach the Central Bank of Egypt’s target by the end of 2019. Unemployment has declined to around 10 percent, which is the lowest since 2011, and social protection measures have been expanded.” Lagarde stressed that it is important to continue the economic reform program to ensure continued growth and higher living standards. “It is important to build on the…
IMF’s Christine Lagarde Praises Egypt’s ‘Ambitious Economic Reform’
January 26, 2019
