President Sisi expresses appreciation of fruitful partnership between Egypt, IMF

DUBAI – President Abdel Fattah El Sisi expressed his appreciation of the fruitful partnership between Egypt and the International Monetary Fund (IMF), asserting the Egyptian government’s keenness on its continuation.

The president’s remarks were made during his meeting with IMF Managing Director Kristalina Georgieva at his residence in Dubai following his arrival to take part in the 2023 UN Climate Summit (COP28).

Presidential Spokesman Ahmed Fahmy said the meeting reviewed relations between Egypt and the IMF especially in light of the current cooperation program to continue the implementation of Egypt’s economic reform, as the president noted that this cooperation created a positive atmosphere for the country with all investors and international stock markets when it comes to Egypt’s economy, in addition to exploring investment opportunities and the vast horizons offered by Egypt’s investment map, taking into consideration the country’s resolve to continue enhancing its structural reforms relevant to its financial and monetary policies as well as maximizing the role of the private sector in the development process.

The IMF official, for her part, explained that the fund is looking forward to carrying on with the distinguished cooperation with Egypt and supporting its economic reforms, praising the performance of Egypt’s economy and what it has shown of resilience and persistence in face of the negative impacts of the coronavirus pandemic, the Russia-Ukraine war and the crisis in Gaza, the spokesman said.

She also asserted that the IMF would continue enhancing joint action with the Egyptian government to achieve the State’s national objective of improving the economic indicators, increasing competitiveness and deepening the participation of the private sector in the ongoing development process, the spokesman added.

The meeting also dealt with the climate crisis, climate funding, especially for the developing nations, the world economic status and current efforts to introduce reforms to the international financial architecture and multilateral financial institutions to be more capable of facing the growing global challenges, the spokesman noted.