Egypt prioritise economic stability to relieve global crisis impact

Egyptian government’s priority in the current stage is to guarantee the stability of the economy and reduce the negative impact of the global economic crisis, Prime Minister Moustafa Madbouly announced in a meeting on Wednesday.

Moreover, the government seeks to strengthen efforts in order to implement the necessary economic and structural reforms.

The meeting tackled the latest developments in the Russian-Ukrainian crisis and the challenges faced by the countries of the world to confront this delicate circumstance.

Egypt and its institutions continuing in cooperation with all international partners and institutions to ensure the consistency of policies and reforms followed with best international practices and experiences.

This include including the International Monetary Fund, with which the Egyptian authorities have strong and continuous relations and partnerships, the statement added.

The meeting held with executive director at the International Monetary Fund (IMF) Mahmoud Mohieldin and the newly acting governor of the Central Bank of Egypt (CBE) Hassan Abdallah.

This came hours after President Abdel-Fattah El-Sisi issued a presidential decree appointing the Chairman of the Board of Members of the United Media Services Group (UMS) and veteran banker Hassan Abdalla as the acting governor of CBE.