Finance Minister meets asset managers of $280B in Washington

CAIRO – 12 October 2017: Minister of Finance Amr El-Garhy is scheduled to meet Thursday leading U.S.-based institutional investment firms managing $280 billion in assets, in a roundtable organized by local investment bank CI Capital Holding.

Garhy, who is in Washington to attend annual meetings of the International Monetary Fund (IMF) and the World Bank, will discuss Egypt’s macro-economic developments, and fiscal policy reform updates, CI Capital said in a Thursday statement.

“Such meetings build an effective, if not grounded, bridge between investors and policymakers, providing a clear roadmap for investors in the medium and long term horizons, as well as an increased level of transparency,” managing director of CI Capital Karim Khadr said.

Next week, CI Capital will organize a second roundtable between Garhy and institutional investment firms in London holding $276 billion in assets.

Garhy arrived to Washington Wednesday along with Deputy Minister of Finance for Fiscal Policies Ahmed Kouchouk and Deputy Minister of Finance for Budget Affairs Mohamed Maeet.

The Egyptian official delegation will discuss the latest updates in the economic reform program and will also arrange the agenda of the IMF’s delegation, which will visit Egypt in October to review and discuss methods of providing technical assistance to Egypt and the Ministry of Finance in the upcoming period, the Ministry said in a Tuesday statement.

Garhy is scheduled to meet IMF managing director Christine Lagarde and director of the IMF's Middle East and Central Asia Department, Jihad Azour, to review the economic developments in Egypt.

The Minister of Finance will also meet World Bank officials to discuss methods of supporting Egypt’s development programs and officials from international rating agencies Moody’s, Fitch and S&P Global.