Title: “The happy partnership between Egypt and the IMF for economic development”
Introduction :
Egypt recently strengthened its fruitful cooperation with the International Monetary Fund (IMF), as part of its economic reform program. President Abdel Fattah al-Sisi expressed his appreciation for this partnership during his meeting with IMF Managing Director Kristalina Georgieva in Dubai. In this article, we will explore the reasons for this successful collaboration and the future prospects for the Egyptian economy.
A positive climate for the Egyptian economy:
President al-Sisi highlighted the positive impact of cooperation with the IMF on Egypt’s economic environment. This relationship has helped strengthen the confidence of national and international investors as well as stock markets in the Egyptian economy. The economic reforms implemented have created a favorable atmosphere for investment, thus opening vast horizons for the economic development of the country.
Continued support from the IMF:
For her part, Kristalina Georgieva expressed satisfaction with the performance of the Egyptian economy and praised its resilience in the face of challenges such as the Covid-19 pandemic, the Russia-Ukraine war and the crisis in Gaza. She also reaffirmed the IMF’s commitment to supporting Egypt’s economic reforms and strengthening its cooperation with the Egyptian government. This collaboration aims to improve the country’s economic indicators, increase its competitiveness on the international scene and promote the participation of the private sector in the ongoing development process.
Focus on the climate crisis and financing:
In addition to the economic issue, the meeting also addressed the global climate crisis and the need to finance developing countries to face this major challenge. Egypt, as host country of the COP28 climate summit, is particularly invested in this issue. Discussions therefore focused on ongoing efforts to introduce reforms in the international financial architecture and multilateral financial institutions, in order to address growing global challenges.
Conclusion :
The partnership between Egypt and the IMF continues to bring positive results for the Egyptian economy. The close cooperation between the two parties helps to strengthen investor confidence and promote the development of the private sector within the country. Additionally, Egypt plays a leading role in environmental issues, as the host country of the climate summit. This collaboration with the IMF will support the country’s efforts to address the climate crisis and other global economic challenges.