Egypt Independent

IMF chief praises economic reform progress in Egypt



President Abdel Fattah al-Sisi met with 

Christine Lagarde, Managing Director of the International Monetary Fund, on Wednesday while on an official visit in Washington.

Lagarde commended the crucial decisions taken by the government to carry out its economic reform program, presidential spokesperson Alaa Youssef said. She highlighted the ongoing cooperation between Egypt and the IMF, which is providing the necessary support for the reform program.

During the meeting, Sisi expressed his appreciation of the fruitful cooperation between the government and the IMF, Youssef said. He also indicated his interest in the ongoing cooperation, especially in the technical support field. The president also touched on achieving the 2030 sustainable development goals and boosting efforts to expand social protection programs.

Sisi indicated that the economic reform program is ongoing, praising the patience of the Egyptian people and their understanding amid the difficult measures taken. Economic reform is imperative in handling Egypt's chronic economic issues, he added.

In January, the Fund said Egypt is on track to receive the second tranche of a $12 billion three-year loan from the IMF, pending a visit at the end of February to review progress on its economic reform programme.

Edited translation from Al-Masry Al-Youm