Lagarde: IMF working with Egypt to help control inflation

The International Monetary Fund (IMF) is working with Egypt to help bring inflation under control, managing director Christine Lagarde said Wednesday following her meeting with Egyptian President Abdel Fattah al-Sisi in Washington.

“President Sisi and I discussed the progress of Egypt’s economic reform programme supported by the IMF’s $12 billion Extended Fund Facility arrangement.” Lagarde stated.

“Egypt is implementing a strong economic reform programme to help the economy return to its full potential, achieve more growth and create more jobs. We recognize the sacrifices made and the difficulties faced by many Egyptian citizens, especially due to high inflation.”

“The IMF is working to help the government and the Central Bank bring inflation under control and supports the steps the Egyptian authorities are taking to protect its poorest and most vulnerable citizens.”