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Egyptian Delegation Discusses with Treasury Secretary Strengthening Economic Cooperation


Wed 10 Jan 2024 | 11:47 PM
Taarek Refaat

A high-level Egyptian delegation currently visiting Washington, consisting of the Minister of Finance, the Governor of the Central Bank, and the Minister of International Cooperation, held good, constructive and positive discussions with Janet Yellen, the US Secretary of the Treasury, and the Director General of the International Monetary Fund, Kristalina Georgieva, within the framework of mutual visits to enhance ways of bilateral cooperation, 

The visit comes amid a Middle East conflict, which is casting a shadow on emerging markets, in the wake of geopolitical tensions, especially the war in Gaza and the resulting unprecedented challenges.

The two sides confirmed that they are looking forward to advancing economic relations between the two countries in line with their keenness to deepen the strategic partnership between Egypt and the United States of America. The two sides agreed that this difficult economic stage requires concerted international efforts to contain internal and external shocks in developing countries and emerging economies.

The Egyptian delegation reviewed during the meeting the Egyptian economic reform plan, including the economic reform program with the IMF, and ways to deepen bilateral economic relations between the two countries, pointing out the Egyptian side’s keenness to complete the process of structural reforms that support the private sector and expand its role in economic activity and the development process.

The US Secretary of the Treasury affirmed the strong support for Egypt and the reform program that Egypt is pursuing to strengthen its economy and support the trend towards achieving comprehensive and sustainable growth, expressing the US Treasury’s readiness to continue joint work closely with Egypt on bilateral and regional issues. 

The Egyptian delegation also met with Georgieva, who stressed that the fund will remain a strong partner to Egypt in these difficult circumstances.