CAIRO - 2 November 2024: In a recent press conference with Prime Minister Mostafa Madbouly, Central Bank Governor, and senior Egyptian officials, Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), outlined a promising trajectory for Egypt’s economy.
She anticipates that inflation rates could fall to 17 percent in the coming period, a goal backed by the IMF’s support of Egypt’s ongoing economic reforms.
Georgieva expressed the IMF’s appreciation for Egypt’s committed efforts over recent months, noting the government’s effective policies aimed at enhancing economic stability.
She acknowledged Egypt’s resilience, describing the country as a “safer environment” amidst global economic disruptions—a stability essential for fostering long-term prosperity.
Reflecting on her meeting with President Abdel Fattah El-Sisi, Georgieva commended Egypt’s progress in implementing reforms.
She highlighted the IMF’s focus on fostering a thriving private sector, essential to absorb over a million young people entering the labor market annually. The IMF views this sector as a critical engine for creating sustainable jobs and ensuring economic inclusivity across Egypt.
Prime Minister Madbouly echoed Georgieva’s optimism, projecting further success in Egypt’s partnership with the IMF.
He revealed that the IMF will begin its fourth review of Egypt’s economic reform program in just two days, marking another milestone in their collaborative effort to secure a prosperous economic future for the nation.
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