The International Monetary Fund has welcomed cooperation with Egypt to provide financial support to fund the country’s economic programme. The organisation is looking forward to discussing policies that would support Egypt in facing current economic challenges, and to provide support for restoring economic stability, strong and sustainable growth, and job creation, according to a statement issued by the cabinet.
The statement mentioned that the IMF mission headed by Chris Jarvis will come to Egypt for an official visit on Saturday, in order to finalise the talks between the Egyptian government and the IMF and to support the state’s economic reform programme as soon as possible.
Prime Minister Sherif Ismail stressed the importance of completing the talks and negotiations with the IMF in his meeting with the economic ministerial group on Tuesday.
Ismail prioritised presenting the agreements to the cabinet for approval in order for the required procedures to be completed for the parliament’s approval. After these steps, the financial cooperation programme with the IMF can be launched over the next three years in order to allocate funding to resolve the deficit facing Egypt’s economy.
It is hoped that this will achieve stability in the financial markets, as well as realising targeted growth rates.