Wednesday 13 Nov
President Abdel Fattah El-Sisi received on Sunday Director General of the International Monetary Fund Kristalina Georgieva, and the high-level delegation accompanying her, in the presence of Dr. Moustafa Madbouly, Prime Minister, Hassan Abdullah, Governor of the Central Bank, Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and Ahmed Kojak, Minister of Finance. .
Ambassador Ahmed Fahmy, the
official spokesman for the Presidency, stated that the meeting focused on the
progress of Egypt's economic reform program, undertaken in partnership with the
IMF. President Sisi expressed Egypt's desire to continue this cooperation,
building on past successes to stabilize the economy and curb inflation. He
emphasized the need to acknowledge the significant challenges posed by recent
regional and international crises, which have impacted Egypt's dollar resources
and budget revenues. The President reiterated the government's commitment to
alleviating the burden on citizens, particularly by addressing inflation and
high prices, while simultaneously attracting investments and empowering the
private sector to drive growth and job creation.
Georgieva expressed her deep
appreciation for Egypt's efforts in implementing the reform program,
prioritizing the most vulnerable groups. She commended the positive trajectory
of macroeconomic indicators despite unprecedented challenges, which has led to
improved credit ratings and increased investment.
The IMF Director acknowledged the magnitude of the challenges facing Egypt due to global and regional factors. She affirmed the Fund's commitment to working with the Egyptian government to identify optimal reform paths that preserve the positive impacts of past reforms, such as improved economic indicators and enhanced growth. The focus will be on private sector-led growth. Georgieva also stressed the shared priority of combating inflation and implementing measures to reduce it.
