IMF praises Egypt’s efforts to address economic repercussions of Russia-Ukraine conflict

Doaa A.Moneim , Wednesday 30 Mar 2022

The managing director of the International Monetary Fund (IMF) Kristalina Georgieva praised on Wednesday the rapid response of Egypt’s government to address the repercussions of the Russian-Ukrainian conflict as well as the increase in the prices of food, basic materials, and transport.

File Photo: The International Monetary Fund logo is seen during the IMF/World Bank spring meetings in Washington, U.S., April 21, 2017. REUTERS

Georgieva made the comments during a meeting with Egypt’s Minister of Finance Mohamed Maait on the sidelines of the governments summit being held in Dubai.

Georgieva also hailed the social protection package Egypt has approved to mitigate the impacts of the ongoing crisis and the global inflationary wave.

During the meeting, Georgieva asserted Egypt’s ability to cope with the ongoing global crisis and to recover from it.

“The IMF will remain supportive to Egypt to continue its economic reform programme. We are in talks with the Egyptian authorities for a new programme for the country that aims at support the structural reforms Egypt is executing,” said Georgieva.

For his part, Maait told Georgieva that Egypt’s government is committed to achieving financial discipline, keeping the sustainability of the country’s economic indices, and maintaining the positive real GDP growth.

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