Press Release: Statement at the Conclusion of the Visit by IMF Director Masood Ahmed to Egypt

IMF News, January 7, 2013

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Canonical URL: Press Release: Statement at the Conclusion of the Visit by IMF Director Masood Ahmed to Egypt

Press Release No. 13/06
Date of visit and statement: January 7, 2013
Mr. Masood Ahmed, Director of the Middle East and Central Asia Department of the International Monetary Fund (IMF), visited Cairo on January 7, 2013.
During his visit, Mr. Ahmed met with:
- President Mohamed Morsi
- Prime Minister Hisham Kandil
- Central Bank of Egypt Governor Farouk El Okdah
- Finance Minister Al-Mursi Hegazy
- Minister of Planning and International Cooperation Ashraf Al-Araby
- other officials

Productive discussions were held with President Morsi, Prime Minister Kandil, and Egypt’s economic team on the economic and financial challenges facing the Egyptian economy.
The authorities expressed:
- their firm commitment to articulate and implement a homegrown macroeconomic program that enjoys broad support and addresses these challenges.
- their request for financial support from the IMF for such a program.
The IMF remains committed to support Egypt in:
- addressing its increasing economic challenges
- moving to a more inclusive model of economic growth through a socially-balanced homegrown program
Mr. Ahmed was encouraged by the authorities’ commitment to take steps necessary to achieve fiscal and external sustainability.

Agreement reached that an IMF technical team would visit Cairo in the coming weeks to resume discussions on possible IMF financial support.

Source: IMF press release dated January 7, 2013.