El-Sisi meets with IMF’s Georgieva to review Egypt’s economic reform progress

Updated 11/3/2024 12:32:00 PM

Arab Finance: President Abdel Fattah El-Sisi met with the International Monetary Fund's (IMF) Managing Director Kristalina Georgieva and her accompanying delegation to discuss Egypt’s ongoing economic reform program, as per a statement.

The meeting was attended by senior Egyptian officials, including Prime Minister Mostafa Madbouly, Central Bank of Egypt's (CBE) Governor Hassan Abdalla, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, and Minister of Finance Ahmed Kouchouk.

Discussions focused on recent developments in Egypt’s economic reform efforts, conducted in collaboration with the IMF.

El-Sisi reiterated Egypt’s commitment to continuing its cooperation with the IMF over the coming period, emphasizing the government’s focus on stabilizing the economy, curbing inflation, and maintaining support for citizens amid recent global and regional disruptions.

He also highlighted the state’s priority to alleviate financial pressures on its citizens and maintain efforts to attract investment, foster private sector growth, and create job opportunities.

Meanwhile, Georgieva expressed her appreciation for Egypt’s recent steady progress, noting the impact of the reform program on macroeconomic indicators despite formidable global challenges.

She praised Egypt’s approach of prioritizing vulnerable populations, acknowledging the nation’s improvement in international credit ratings and its success in attracting investment.

Moreover, Georgieva confirmed the IMF’s continued support for Egypt, stressing the fund’s alignment with Egypt’s goals to control inflation, support private sector-driven growth, and enhance economic stability.