Press Release No. 18/355

Statement by the IMF Managing Director on Egypt

September 23, 2018

Following a meeting with President Abdel Fattah El Sisi in New York today, Ms. Christine Lagarde, Managing Director of the International Monetary Fund, made the following statement:

“President El Sisi and I discussed the good progress under Egypt’s economic reform program supported by the IMF’s US$12 billion Extended Fund Facility. Egypt’s economy is showing strong signs of recovery, and its economic growth is among the highest in the Middle East.

“We agreed on the importance of capitalizing on Egypt’s macroeconomic gains to advance the authorities’ home-grown structural reforms. These reforms will help achieve more sustainable, inclusive and private-sector led growth which will help create jobs for Egypt’s young population, while also ensuring adequate resources are available for social protection. I reiterated the Fund’s commitment to support Egypt and its people.”