Mashat’s meeting with Nicholas Stern, chair of the Grantham Research Institute on Climate Change and the Environment at the London School of Economics, came on the sidelines of the 2022 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington.
This came as she participated in the Intergovernmental G24 Ministers and Governors Meeting, which is being held in conjunction with the WBG and IMF’s 2022 Spring Meetings.
Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva said the Egyptian government had made remarkable progress in implementing its economic reforms program.
Countries in the Middle East, North Africa, Caucasus, and Central Asia regions are highly exposed to rising global food prices, particularly the price of wheat, which is expected to remain high throughout the year and into 2023.
In its latest World Economic Outlook issued Tuesday, the IMF expected that Egypt's gross domestic product (GDP) in 2023 would grow by 5 percent.
Mounting price pressures, slipping output expansion and sagging confidence will all pose a drag for most countries, according to the latest Brookings-FT tracking index.
Lebanese Deputy Prime Minister Saada Al-Shami announced, Monday ‘the bankruptcy of the state and the Central Bank of Lebanon’.
Maait’s remarks came after his meeting with IMF director Kristalina Georgieva which was held on the sidelines of the World Government Summit 2022.
Given the fact that Egypt will play host to an important climate conference or COP27 late this year, followed by UAE in 2023, she added in remarks at the World Government Summit 2022 (WGS2022).
Egypt has submitted a request to the International Monetary Fund (IMF) to start negotiations about a new program that seeks to support Egyptian state’s plans of national comprehensive economic reform, the Egyptian Cabinet said.
This came in a video conference during the graduation ceremony of the first batch of the "Be an Ambassador for Sustainable Development" initiative and the launch of the Road to the Cop27 initiative.
Energy and commodity prices—including wheat and other grains—have surged, adding to inflationary pressures from supply chain disruptions and the rebound from the Covid‑19 pandemic.
“Egypt is now working on the new energy file through a strategic plan in order to provide a better life for citizens and raise their standard of life,” he elaborated.
Maait pointed out that despite the sharp rise in oil prices and shipping costs, as a result of the good management of the repercussions of the post-pandemic outbreak, as well as the positive economic performance.
"Egypt is the only oil-importing country that has achieved positive growth thanks to the good management of the repercussions of the post-Covid-19 pandemic and the release of positive economic data,” she said.
The UN COP27 will be an African summit for the developing and middle-income countries, he underlined, pointing to the Western countries' disobedience to implement the 2015 Paris Agreement's outcomes that led to the emergence of severe weather conditions.
President Abdel Fattah al Sisi said Wednesday in the ‘Development Partners’ Session as part of the World Youth Forum that Egypt took the lead in participating and cooperating with various world organizations.
Egypt has nearly 200 years of experience in the field of implementing small and medium sized enterprises (SMEs), said Executive Director of the International Monetary Fund (IMF) Mahmoud Mohieddine.
Executive Director of the International Monetary Fund Mahmoud Mohieldin praised the presidential development initiative “Haya Karima,” saying “it will open up endless job opportunities.”
The report indicated that the IMF’s expectations indicate an increase in total revenues as a percentage of gross domestic product (GDP), to record 18.6 percent in 2021/2022, 18.7 percent in 2022/23, 18.9 percent in 2023/2024, and 19 1 percent in 2024/2025.