## Statement by the IMF Managing Director on Egypt

_IMF News, April 9, 2019_

## Source details

**Canonical URL:** [Statement by the IMF Managing Director on Egypt](https://www.imf.org/en/news/articles/2019/04/09/pr19108-egypt-statement-by-the-imf-managing-director)

## Other formats

- [Markdown version](/en/news/articles/2019/04/09/pr19108-egypt-statement-by-the-imf-managing-director/index.md)
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## Bibliographic details
- Published: April 9, 2019

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### Meeting and program status
- Date of statement: April 9, 2019.
- Following a meeting in Washington between Christine Lagarde, Managing Director of the International Monetary Fund, and President Abdel Fattah El Sisi.
- Program supported: IMF’s US$12 billion Extended Fund Facility.
- Status: "The program has progressed well and the final review is planned for the coming months."

### Key economic findings reported
- Growth: "The economy continues to grow robustly."
- Unemployment: "Unemployment is at its lowest level since 2011."
- Reserves: "Foreign exchange reserves are at comfortable levels."
- Public debt: "Public debt is on a downward trajectory supported by growth-friendly consolidation efforts."

### Structural reforms and social protection
- Policy emphasis: "We agreed on the importance of continuing with the authorities’ structural reform agenda, which aims to support inclusive growth and address constraints to private sector development."
- Expected outcomes: "These reforms will help achieve more sustainable, inclusive, and private-sector led growth, which will create jobs for Egypt’s young population."
- Social protection: "It is also important to ensure that adequate resources are available for social protection."

### IMF commitment
- Reaffirmation: "I reiterated the Fund’s commitment to support Egypt and its people."

*Press Release No. 19/108 — April 9, 2019.*

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## References

- [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)

_Source: https://www.imf.org/en/news/articles/2019/04/09/pr19108-egypt-statement-by-the-imf-managing-director_