The Managing Director of the International Monetary Fund (IMF), Christine Lagarde has welcomed the implementation of the economic reform programme in Egypt.
Lagarde stressed that the high level of awareness shown by the Egyptian people, combined with the successful management by the authorities of reform policies, had led to a remarkable improvement in economic indicators.
She also expressed her deep gratitude for the interest shown by the Egyptian President in the youth sector, as well as for the successful experience in organising national and international youth conferences held in Egypt in recent years.
President Abdel Fattah Al-Sisi welcomed the “fruitful” partnership and “constructive” cooperation between his government and the IMF in the implementation of the comprehensive economic reform programme.
He expressed the wish to continue cooperation with the Fund, as the positive partnership between the two creates an environment for investors and financial markets and offers investment opportunities and broad development perspectives.
In this context, the President stated that his people have played a major role in the success of the state’s efforts to implement the reform process of the economy, since they are aware of the inevitability of the measures adopted in this regard, which have contributed to the improvement of economic indicators and the country’s ranking among financial institutions.
As a reminder, in November 2016, the IMF approved a loan of US$12 billion to support economic reform measures in Egypt.
These measures will restore competitiveness, boost growth and create jobs while protecting the most vulnerable.
Disbursed over 3 years, this loan is repayable over 10 years in equal payments.
The Egyptian President is on an official visit to the United States during which he held a series of meetings with a US delegation led by President Donald Trump.
HA/lb/as/APA