Press Release No. 17/119

Statement by IMF Managing Director Christine Lagarde on Egypt

April 5, 2017

Following a meeting with Egypt’s President Abdel Fattah El Sisi in Washington today, Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement:

“President Sisi and I discussed the progress of Egypt’s economic reform program supported by the IMF’s $12 billion Extended Fund Facility arrangement.

“Egypt is implementing a strong economic reform program to help the economy return to its full potential, achieve more growth and create more jobs. We recognize the sacrifices made and the difficulties faced by many Egyptian citizens, especially due to high inflation.

“The IMF is working to help the government and the Central Bank bring inflation under control and supports the steps the Egyptian authorities are taking to protect its poorest and most vulnerable citizens.”