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IMF assures helping Egypt to go forward to maintain stability, growth: Lagarde - Daily News Egypt

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IMF assures helping Egypt to go forward to maintain stability, growth: Lagarde

Al-Sisi requests Lagrade’s assistance to promote young people’s entrepreneurship, give them space, freedom to operate to contribute to Egypt’s economic development


Washington DC – The International Monetary Fund’s (IMF) Managing Director, Christine Lagarde, said, “Egypt has made a great progress under its programme. I think that what is remarkable is that there has been real ownership on the part of the Egyptian people who made huge sacrifices to restore a more stable situation and in order to align the Egyptian pound, for instance, with what we regarded and what the markets regarded as its real value relative to the economy.”

In her reply to Daily News Egypt’s question during the Spring Meetings on Thursday, Lagarde added, “We are getting close to the end of that programme, and we very much hope that the next review, yet to come, will be completed satisfactorily. I have received insurance from President Al-Sisi, as I said earlier this week, that Egypt will stay committed in order to complete the programme in order to deliver on their commitment.”

Lagarde disclosed that she has assured Al-Sisi that the IMF remains available to continue to help Egypt go forward in order to maintain stability and to make sure that growth continues to support the Egyptian economy, thereby creating jobs.

I have raised specifically the issue of the entrepreneurship of young people and how they need a space and the freedom to operate in order to contribute to the economic development in Egypt. In return, the president he requested that we help in that respect as much as we can, according to Lagrade.

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