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Egypt’s finance minister off to IMF-World Bank Annual Meetings in Peru

Egyptian Ministry of Finance Hany Qadry is heading a delegation to attend the annual meetings of the International Monetary Fund (IMF) and World Bank (WB).

The meetings will take place in Lima, Peru on October 9-11, 2015.

Minister Qadry is set to take part in a series of crucial meetings on the side lines of the IMF-WB event, notably high-profile officials from the Deauville partner countries, said the deputy finance minister Ayman El-Kaffas.

Launched at the G8 summit held in the French town of the same name in May 2011, the Deauville Partnership backs political reform – notably improved governance and the fight against corruption – and sustainable and economic growth.

While set up by the G8 together with Egypt, Jordan, Morocco, Tunisia and Libya, the Partnership is “global”, open to all countries in the region moving towards democracy, as well as international financial institutions (IFIs), UN agencies, the private sector and civil society.

The Partnership includes Canada, Egypt, France, Germany, Italy, Japan, Jordan, Libya, Kuwait, Morocco, Qatar, Russia, Saudi Arabia, Tunisia, Turkey, the United Arab Emirates, the United Kingdom, the United States and the European Union (EU).

It also includes international financial institutions and organizations committed to supporting reform in Egypt, Jordan, Libya, Morocco and Tunisia. The African Development Bank is the rotating chairman of the IFI platform that includes: the African Development Bank, the Arab Fund for Economic and Social Development, the Arab Monetary Fund, the European Investment Bank, the European Bank for Reconstruction and Development, the International Finance Corporation, the International Monetary Fund, the Islamic Development Bank, the OPEC Fund for International Development, and the World Bank. There are several other organizations that have been supportive of the Deauville Partnership, including, the Arab League, the Organization for Economic Cooperation and Development and the United Nations organizations.

Furthermore, Qadry is also to hold a number of meetings with high-profile officials from international financial institutions and credit rating agencies such as Standard & Poor’s (S&P) and Moody’s, El-Kaffas added.

The Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) each year bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss progress on the work of the IMF and the World Bank Group. Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world’s financial markets.

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