Egypt’s stabilisation efforts yield ‘important gains,’ IMF chief says

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By Yomna Yasser
Egypt IMF
IMF Managing Director Kristalina Georgieva with CBE Governor Hassan Abdalla and in Dubai to discuss the country’s economic reform programme (Photo Credit: Georgieva’s twitter account)

International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Tuesday called her meeting with Central Bank of Egypt (CBE) Governor Hassan Abdalla and Deputy Finance Minister Yasser Sobhy “very productive,” praising the country’s efforts to stabilise its economy.

In a tweet, Georgieva said the IMF looks forward to the Executive Board’s discussion of the fifth and sixth reviews of Egypt’s economic reform programme in the coming weeks. She also said the fund looks forward to larger role for the private sector in supporting growth.

“Stabilisation efforts have delivered important gains to Egypt’s economy.  We look forward to Board discussion of 5th/6th review of Egypt’s reform programme in the coming weeks & larger private sector role.” Georgieva said.

Egypt has been working with the IMF to implement reforms aimed at strengthening macroeconomic stability, improving fiscal sustainability, and boosting long-term growth. The upcoming reviews will assess the progress of these measures and their impact on the broader economy, which has faced challenges from global market volatility and domestic fiscal pressures.

Attribution: Amwal Al Ghad English

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