Statement by IMF First Deputy Managing Director David Lipton on Meeting with Egypt’s President
IMF News, May 7, 2018
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Bibliographic details
- Published: May 7, 2018
Meeting overview
- Press Release No. 18/164
- Date of statement: May 7, 2018
- Speaker: Mr. David Lipton, First Deputy Managing Director of the International Monetary Fund (IMF)
- Location: Cairo
- Contact: PRESS OFFICER: Randa Mohamed Elnagar; Phone: +1 202 623-7100; Email: MEDIA@IMF.org
Macroeconomic findings reported
- Growth is at the highest rate since 2008.
- Inflation has rapidly declined.
- Foreign exchange reserves are at record levels.
- Exports are growing.
- Unemployment has declined.
Inclusive Growth and Job Creation Conference (May 5-6)
- Conference co-organized by the Egyptian authorities and the IMF.
- Broad participation from policy makers, the private sector, members of the parliament, and civil society.
- Consensus reached that Egypt needs to:
- Lock in the gains in macroeconomic stabilization.
- Shift gears towards the implementation of a home-grown structural reform agenda to achieve more inclusive and private sector-led growth.
- Objective: Create jobs as the best way to reduce poverty and improve living standards.
- Conference included participation from former senior policymakers from Korea, India and Malaysia who shared reform experiences.
Policy stance and partnership
- The IMF stands ready to help Egypt achieve a better future for its people.
- Acknowledgements by Mr. Lipton to:
- President Abdel Fattah El Sisi
- Prime Minister Sherif Ismail
- Governor of the Central Bank of Egypt Tarek Amer
- Minister of Finance Amr El Garhy
- Emphasis on continued partnership to support Egypt’s reform program.
Statement by IMF First Deputy Managing Director David Lipton on Meeting with Egypt’s President, May 7, 2018.