President El-Sisi receives IMF’s managing director on sidelines of COP27

Doaa A.Moneim , Sunday 6 Nov 2022

Egypt’s President Abdel-Fattah El-Sisi received Kristalina Georgieva, managing director of the International Monetary Fund (IMF), and her accompanying delegation on the sidelines of the 2022 UN Climate Change Conference (COP27) being held in the Red Sea city of Sharm El-Sheikh 6-18 November.

President El-Sisi while receiving the Managing Director of the IMF and the combined delegation on the sidelines of COP27


The meeting on Sunday was attended by Prime Minister Mostafa Madbouly, the acting governor of the Central Bank of Egypt and the ministers of planning and economic development, international cooperation and finance.

During the meeting, Georgieva hailed the measures Egypt has taken to protect its economy in the face of global economic crises, said Presidential Spokesman Bassam Rady.

President Sisi said Egypt is keen to proceed with the economic reforms and maximize the role of the private sector in the development process.

In October, Egypt reached a staff-level agreement with the IMF to secure a fresh loan under the Extended Fund Facility (EFF) programme worth $3 billion.

The new IMF-backed economic reform programme aims to tackle the imbalances in Egypt’s fiscal policy that are the result of the Russian-Ukrainian conflict.

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