Arab Finance: President Abdel Fattah El-Sisi and the International Monetary Fund’s (IMF) Managing Director Kristalina Georgieva discussed the economic reform program aimed at achieving sustainable development, according to a statement.

On the sidelines of the Africa–France Summit held in Kenya, President El Sisi welcomed the successful completion of the fifth and sixth reviews and their approval by the IMF board last February.

He reiterated Egypt’s commitment to continuing to implement economic reforms despite the current international and regional challenges.

For her part, Georgieva praised Egypt’s adherence to the economic reform program, which aims to foster macroeconomic stability, achieve fiscal discipline, and improve the business environment.
She also affirmed the IMF’s keenness to maintain close cooperation with the Egyptian government in support of these efforts.

The talk also addressed the economic repercussions of escalating tensions and their impact on the Middle East, particularly regarding energy and food security in developing countries that rely on imports of petroleum products and strategic commodities.

President El-Sisi affirmed that international financial institutions and development partners have a vital role in boosting the resilience and economic stability of developing and least-developed countries in facing current challenges.

He also highlighted the proactive measures implemented by Egypt to ensure economic stability and fiscal discipline, most notably maintaining exchange rate flexibility as a key pillar of monetary policy and a mechanism for absorbing shocks.

The managing director also outlined the fund’s measures to help member states address current challenges.