IMF: Egyptian Economic Reform

Sudan Evens – Nahid Oshi

The dollar suffered a sudden decline being equivalent to 46 pounds against one dollar. This coincided with Egyptian President Abdul Fattah El-Sisi receiving Kristalina Georgieva, Executive Director of the International Monetary Fund (IMF), in Dubai on the sidelines of the COP28 climate summit. The IMF Director praised Egypt’s important role in the region and its commitment to macroeconomic stability in a challenging environment, noting that IMF strongly supports reform efforts in Egypt.
In this regard, she praised the performance of the Egyptian economy and the flexibility and resilience showed in face of the negative repercussions resulting from the Corona pandemic, the Russian-Ukrainian crisis, and the situation in Gaza, stressing that the Fund will continue to strengthen joint work with the government to achieve the Egyptian national goals of improving the overall indicators of the economy and increasing its competitiveness.
Meanwhile, the official spokesman for the Presidency of the Republic stated that the meeting discussed aspects of relations between Egypt and the IMF, particularly in light of the existing cooperation program to complete the implementation of Egyptian economic reform. In this regard, President El-Sisi expressed appreciation for the fruitful partnership between the two sides, stressing his government’s keenness to continue it.

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