Egypt Daily News – Nigel Clarke, Deputy Managing Director of the International Monetary Fund (IMF), expressed his appreciation for the strong partnership between the IMF and Egypt.
In a post on the “X” platform following his meeting with Hassan Abdalla, Governor of the Central Bank of Egypt, Clarke said: “We reaffirmed the strong partnership between the IMF and Egypt,” adding that discussions focused on further strengthening the resilience of Egypt’s economy in the face of external shocks.
He emphasized that, thanks to the adoption of a flexible exchange rate system and balanced monetary policy, Egypt has improved its ability to cope with economic fluctuations and has made notable progress in curbing inflation.
It is worth noting that the Governor of the Central Bank of Egypt received the IMF Deputy Managing Director and his accompanying delegation today at the bank’s headquarters, as part of Clarke’s current visit to Egypt. The visit aims to follow up and discuss the latest developments in the country’s economic reform program implemented in cooperation with the IMF.
The meeting reviewed the positive developments in Egypt’s economic indicators in light of the state’s efforts to implement its national economic reform agenda. These efforts have helped boost growth rates, create an investment-friendly environment, and increase remittances from Egyptians working abroad.
The meeting also covered joint efforts between the Central Bank and the government to reduce inflation and maintain its downward trajectory.
