ICEC

IMF hails CBE Egypt’s monetary policy

International Monetary Fund (IMF) Mission Chief for Egypt Subir Lall said on Tuesday that the monetary policy adopted by the Central Bank of Egypt (CBE) is good and has helped contain the repercussions of floating the Egyptian pound against the US dollar.

In statements to MENA, he added that the policy of the CBE comes within the framework of a holistic economic policy that seeks to stimulate the national economy.

One of the fruits of this policy is that inflation went down since mid 2017 until May 2018, he said, noting that a recent increase in fuel prices led to a limited increase in inflation rates in June.

He expected that inflation rates will keep going down in the coming period thanks to the viable measures adopted by the Egyptian government.

He confirmed that the IMF will keep supporting the Egyptian economic reform programme.

Source: MENA

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