## Press Release: IMF Welcomes Arab Republic of Egypt's Decision to Adopt a Floating Exchange Rate Regime

_IMF News, January 30, 2003_

## Source details

**Canonical URL:** [Press Release: IMF Welcomes Arab Republic of Egypt's Decision to Adopt a Floating Exchange Rate Regime](https://www.imf.org/en/news/articles/2015/09/14/01/49/pr0312)

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## Bibliographic details
- Published: January 30, 2003

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### Press release metadata
- Press Release No. 03/12
- January 30, 2003

### Announcement
- The IMF welcomed the decision of the Egyptian authorities to adopt a fully flexible exchange rate regime.
- Statement issued by Ms. Anne Krueger, First Deputy Managing Director of the International Monetary Fund (IMF).

### Rationale and expected effects (as stated by the IMF)
- "Such flexibility is important for the continuing efforts of the authorities to introduce structural reforms to promote economic efficiency and to stimulate trade and investment."
- "It will help to create the necessary climate for promoting sustainable economic growth."

### IMF stance and policy support
- "Management and staff of the IMF look forward to continuing our close working relationship with the Egyptian authorities, and remain supportive of Egypt's commitment to market-based reforms."

*Source: Press Release No. 03/12, January 30, 2003, International Monetary Fund.*

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## References

- [Arab Republic of Egypt and the IMF](http://www.imf.org/external/country/EGY/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr0312_