Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

IMF: Egypt Implemented Serious Reforms to Enhance Financial Stability

Wed 03 Apr 2024 | 03:42 AM
Taarek Refaat

The Resident Representative of the International Monetary Fund (IMF) in Egypt, Alex Segura-Ubiergo said that the Egyptian government has implemented serious reforms to enhance financial stability, the investment environment, and control the money market.

The representative of the International Monetary Fund said, during a panel discussion organized by the American Chamber of Commerce in Cairo entitled “The Egyptian Economy ... The Way Forward,” on Tuesday, that the momentum of the economy must be maintained to enhance structural reforms, the investment environment, reduce inflation, and increase economic growth.

He added that Egypt is implementing important measures to ensure macroeconomic stability, stressing the importance of the measures implemented by the Egyptian government to address the challenges of the economy, protect the most needy groups, and enhance the private sector’s contribution to the development plan.

On his part, President of the American Chamber of Commerce in Cairo Tarek Tawfiq said that the measures recently adopted by the Egyptian government  aimed to restore investor confidence, reduce inflation rates, continue structural reforms, and eliminate the parallel market for foreign currencies.