Egypt should continue its economic reform program: IMF

CAIRO – 23 December 2020: Egypt should continue its economic reform program and start implementing its plans for deeper reforms, the Executive Director of the International Monetary Fund (IMF), Mahmoud Mohieldin, said Tuesday.

Mohieddin added in a TV interview that this includes increasing the country's investments in the sectors of health care, education and infrastructure to achieve sustainable and long-term growth.

He indicated that the commitment that Egypt showed to the program helped it gain and maintain the confidence of international institutions, such as the International Monetary Fund.

"The global economy may return to growth again next year by between 2 and 3 percent if the" Covid-19 "vaccines are effective by 85-95 percent, but the recovery will vary greatly between each other's sectors (the tourism sector versus the Financial technology, for example), as well as among the countries that have suffered or have benefited from the epidemic,” he added.