Egypt participates in IMF annual meetings

Egypt is participating in the annual meetings (Autumn Meetings) of the International Monetary Fund and the World Bank, to be held today in Washington, DC, with a high level official delegation comprising of Sahar Nasr, minister of Investment and International Cooperation and Egypt’s representative to the World Bank, Tarek Amer, Governor of the Central Bank, and Amr al-Garhy, the minister of Finance.

Sources expect the participation of Ghada Waly, minister of Social Solidarity, Hala al-Saeed, minister of Planning, Mostafa Madbouly, minister of Housing, along with the President of Egypt’s Union of Banks, a number of bank heads, and representatives of civil society organizations and the private sector.

The meetings, which continue until mid-June, will discuss global issues including poverty eradication, economic development, aid effectiveness, global economic situation, international development and the financial system.

A special meeting on Egypt is expected to be held on the sidelines of the meetings, to present the results of the economic and social reform program applied by the Egyptian government. The third phase of the economic and social reform program will be announced regarding financial and monetary policies, financial inclusion and the National Payments Council.

Nasr plans to focus on supporting investments in Egypt, improving Egypt’s ranking in the Global Competitiveness Report and the funding of youth and women’s projects, she told Al-Masry Al-Youm.

She plans to meet with heads of international funding entities, such as the European Bank and the Islamic Development Bank, US administration officials and US investors. She will focus on the presentation of government priorities, and what different funding institutions can contribute with to support the government’s reform program, she added.

Edited Translation from Al-Masry Al-Youm

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