Egypt is supporting African Development Bank, ready to transfer expertise: Amer

In an interview at the annual meetings of the African Development Bank meetings in Korea, the Egyptian governor said that Egypt is attending the meeting to help and support the African Development Bank and to see how to empower this institution.

He added that CBE seeks to enhance its relation mutual relationship with its counterpart in Korea to be able to benefit of the knowledge and the experience that has taken place there.

He further noted that  they need to have discipline and increase capability  of delivery at high standards because government create the  environment necessary for growth, jobs and investments. There is every need to implement governance in government institutions. He also referred to  corruption, saying that it is tackled right after the monetary and fiscal reforms in Egypt.

Amer pointed out the importance of the development of the human beings especially young talented people who can really provide an added value to the community.

in his statement during the meetings Tarek Amer said that CBE is ready to work on embracing financial technology and financial inclusion.

He added that Egypt has successfully accomplish the first phase of the economic reform program that tackled the monetary policy where the CBE has floated the Egyptian pound and launched a free exchange system and addressing the fiscal imbalances in cooperation with the International Monetary Fund.

The librating of the exchange rate has exceeds the expectations, Egypt’s current balance has improved by 64 percent, the unemployment has fallen by 3 percent and inflation fell from 33 percent to 30 percent.

He concluded his statement by saying that the African countries should work together and cooperate.