{
  "title": "Statement by IMF Managing Director Christine Lagarde on Egypt",
  "publication": "IMF News, January 25, 2019",
  "sourceUrl": "https://www.imf.org/en/news/articles/2019/01/25/pr1918-statement-by-imf-managing-director-christine-lagarde-on-egypt",
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  "summary": "<span style=\"background-color: #ffffff; color: #2c2825;\">The Egyptian authorities embarked on an ambitious economic reform program in 2016 that is being supported by an IMF financial arrangement.",
  "publishDate": "2019-01-25",
  "sections": [
    {
      "heading": "Overview of progress and macroeconomic stabilization",
      "content": "- Egyptian authorities embarked on an ambitious economic reform program in 2016 that is being supported by an IMF financial arrangement.\n- Since 2016, Egypt has made substantial progress as evident in the success achieved in macroeconomic stabilization.\n- Key outcomes highlighted:\n  - Growth rate is now among the highest in the region.\n  - The budget deficit is on a declining trajectory.\n  - Inflation is on track to reach the Central Bank of Egypt’s target by the end of 2019.\n  - Unemployment has declined to around 10 percent, which is the lowest since 2011.\n  - Social protection measures have been expanded."
    },
    {
      "heading": "Policy recommendations and priorities",
      "content": "- Continue to build on progress and press ahead with structural reforms that:\n  - Facilitate private sector-led growth and job creation.\n  - Increase transparency and accountability to help improve governance.\n- Objective: attain higher and more inclusive growth and ensure better living standards for all Egyptians."
    },
    {
      "heading": "IMF program status and next steps",
      "content": "- The IMF staff team has finalized the details required to present the fourth review for Egypt’s Extended Fund Facility arrangement to the IMF’s Executive Board.\n- The Board will meet in the coming weeks to discuss the review.\n- Christine Lagarde will recommend that the Board approve the review.\n- The Fund stands ready to help achieve a more prosperous future for Egypt."
    },
    {
      "heading": "Administrative and press information",
      "content": "- Press Release No. 19/18\n- January 25, 2019\n- IMF Communications Department\n- PRESS OFFICER: Randa Elnagar\n- Phone: +1 202 623-7100\n- Email: MEDIA@IMF.org\n\nStatement by IMF Managing Director Christine Lagarde on Egypt, January 25, 2019.\n\n---\n\n\n References\n\n- Christine Lagarde\n- Arab Republic of Egypt and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2019/01/25/pr1918-statement-by-imf-managing-director-christine-lagarde-on-egypt"
    }
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    "Published: January 25, 2019",
    "Egyptian authorities embarked on an ambitious economic reform program in 2016 that is being supported by an IMF financial arrangement.",
    "Since 2016, Egypt has made substantial progress as evident in the success achieved in macroeconomic stabilization.",
    "Key outcomes highlighted:",
    "Continue to build on progress and press ahead with structural reforms that:",
    "Objective: attain higher and more inclusive growth and ensure better living standards for all Egyptians.",
    "The IMF staff team has finalized the details required to present the fourth review for Egypt’s Extended Fund Facility arrangement to the IMF’s Executive Board.",
    "The Board will meet in the coming weeks to discuss the review.",
    "Christine Lagarde will recommend that the Board approve the review.",
    "The Fund stands ready to help achieve a more prosperous future for Egypt.",
    "Press Release No. 19/18",
    "January 25, 2019",
    "IMF Communications Department",
    "PRESS OFFICER: Randa Elnagar",
    "Phone: +1 202 623-7100",
    "Email: MEDIA@IMF.org",
    "[Christine Lagarde](https://www.imf.org/en/About/senior-officials/Bios/christine-lagarde)",
    "[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)"
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