Madbouly, IMF's Georgieva discuss economic partnership amid global challenges
Updated 11/3/2024 3:30:00 PM
Arab Finance: Prime Minister Mostafa Madbouly held a joint press conference with the International Monetary Fund's (IMF) Managing Director Kristalina Georgieva to discuss the future collaboration between Egypt and the fund, as per a statement.
Georgieva highlighted the ongoing partnership between Egypt and the IMF, expressing her appreciation for the Egyptian government's resilience amid regional challenges.
She emphasized the IMF's support for Egypt's stabilization efforts and economic development, referencing a recent decision to expand the program with Egypt from $3 billion to $8 billion.
This increase reflects the IMF’s recognition of Egypt's commitment to implementing necessary economic measures.
While economic reform is challenging, she acknowledged confidence in Egypt’s ability to yield positive outcomes from these measures, which would lead to a more dynamic and prosperous economy.
Georgieva underscored three key areas for future focus: enhancing economic stability, supporting the private sector, and promoting green economy initiatives.
Meanwhile, Madbouly stressed the necessity for governments to respond swiftly to global uncertainties and rapid changes to achieve sustainable economic growth.
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