Rédaction Africa Links 24 with MENA
Published on 2024-02-13 10:17:32
Prime Minister Moustafa Madbouly expressed his deep appreciation for the cooperation between Egypt and the International Monetary Fund (IMF), emphasizing that his government continues to work towards achieving comprehensive economic reform. The prime minister made these comments during a meeting with IMF Managing Director Kristalina Georgieva on the sidelines of the World Government Summit 2024 in Dubai.
During the meeting, Madbouly highlighted the efforts made by the government to reduce inflation rates and the percentage of debt to the gross domestic product (GDP). He also discussed the measures being taken to support the private sector and implement social protection programs within the country.
Additionally, Madbouly addressed the impact of regional developments on Egypt, noting that the country bears the burden of hosting approximately nine million “guests” from other nations. He also emphasized Egypt’s efforts to secure humanitarian aid for the residents of Gaza, mentioning that to date, approximately 130,000 tons of aid have been delivered to Gazans, with 100,000 tons coming from Egypt.
Furthermore, the prime minister stressed Egypt’s commitment to working with all parties to achieve a ceasefire in Gaza and promote peace in the region, emphasizing that the only way to achieve this is through the implementation of the two-state solution in accordance with agreed international references.
The meeting also focused on the ongoing negotiations between Egypt and the IMF regarding the second and third reviews of the economic reform program under the Extended Fund Facility (EFF), according to Cabinet spokesman Mohamed el Homosani.
In response, Georgieva expressed her understanding of the repercussions of regional developments for Egypt, particularly the effects of the war in Gaza and the threats to navigation in the Red Sea. She reiterated the IMF’s support for the economic reforms and social protection policies being implemented by the Egyptian government.
Overall, the meeting between Prime Minister Madbouly and IMF Managing Director Georgieva highlighted the ongoing collaboration between Egypt and the IMF in the pursuit of economic reform and efforts towards regional stability. The discussions underscored the mutual commitment to addressing regional challenges and advancing the economic and social well-being of the Egyptian people.
Read Original article on Egypt Independent
