IMF official praises economic reforms in Egypt

RABAT - 3 November 2017:Head of the International Monetary Fund (IMF) Middle East and Central Asia Department Jihad Azour lauded the decision taken by the Central Bank of Egypt (CBE) to float the local currency in November 2016.

In statements to MENA, he also commended the reform program applied by the Egyptian government, which he said helped rescue the country’s economy.

Azour made the remarks during his visit to Morocco, where he would announce the Regional Economic Outlook for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region.

The IMF official further praised the CBE’s efforts to slash inflation, noting that the coming period should witness the Egyptian government’s concentration on a structural reform process with the aim of creating more job opportunities for the youth.