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Foreign Minister meets with Christine Lagarde the Managing Director of the International Monetary Fund


12/05/2016

 

During his current visit to Washington, Minister of Foreign Affairs, Sameh Shoukry, met on Monday, December 5 with Christine Lagarde, Managing Director of the International Monetary Fund.

 Counselor Ahmed Abu Zeid Spokesperson for the Foreign Ministry stated that the meeting addressed the recent agreement signed between the Egyptian government and the International Monetary Fund, whereby Shoukry presented a overview of the economic and social developments in Egypt and the economic reform program, highlighting the Egyptian government's commitment to implement all elements of the reform program and to address the challenges associated with it. Shoukry also pointed out that the long-awaited decisions taken by the Egyptian government in this regard confirm the Egyptian side's commitment to implement real economic structural reforms in order to empower the community in confronting the current challenging economic conditions.

 The Foreign Ministry spokesperson added that the Managing Director of the IMF praised Egypt's commitment to proceed with the reform program, noting that the government's success in completing the planned reform process will not only benefit Egypt, but also the IMF and its ability to support other countries.  Lagarde also noted that the success of the Egyptian experience will be a model followed by many countries, emphasizing that the leadership of the Fund and all those responsible for monitoring the reform program are devoting maximum attention to ensure the successful implementation of all its components.

 Attending the meeting was former Prime Minister and the IMF Executive Director of the Arab Group Dr. Hazem Beblawy, who indicated that the first phase of the reform is the most difficult and challenging one, and Egypt's success in overcoming the difficulties associated with that phase will pave the way for the triumphant completion of all of the program's elements. Beblawy also pointed out that one of the most positive indicators observed by the IMF officials is the consensus about the significance of the reform program among a broad sector of the Egyptian people and their desire to take on responsibilities and obligations associated with the program, in order to achieve the aspired reform.

Similarly, Counselor Abu Zeid stated that the Foreign Minister also met during his visit to Washington with Mr. "Merza Hasan," Executive Director of the Arab Group at the World Bank, where they discussed the progress of all World Bank programs in Egypt and deliberated about political, economic and social conditions in Egypt. Abu Zeid concluded his statement indicating that Shoukry expressed Egypt's appreciation for the important role played by the World Bank in supporting economic and social development programs in Egypt

 


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