Egyptian president meets IMF managing director on sidelines of COP 27

CAIRO – 6 November 2022: President Abdel Fatah al-Sisi received Sunday in Sharm El Sheikh, on the sidelines of COP 27, Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva and an accompanying delegation.

The meeting was attended by Egypt's prime minister, governor of the central bank, and the ministers of planning, finance, and international cooperation.

The meeting tackled the aspects of cooperation between Egypt and the IMF, in light of the latest cooperation programme that was agreed upon in October between the two parties to support economic reform in the country.

The president welcomed the IMF's managing director's participation in COP 27, expressing appreciation for her efforts to create a climate favorable for investment, and promising investment opportunities in Egypt.

The chief of state also affirmed the government's eagerness for carrying on economic and structural reforms pertaining to fiscal and monetary policies as well as enlarging the role of the private sector.

On her side, Georgieva's asserted that the IMF would continue to back Egypt's reform endeavors, given that its economy showed an ability to hold out, and contain the repercussions and shocks ensued from the COVID-19 pandemic and Russia-Ukraine War, which have immensely affected emerging economies.