President Abdel Fattah Al-Sisi met with Central Bank of Egypt (CBE) Governor Tarek Amer on Saturday.
Presidency spokesperson Alaa Youssef said that, during the meeting, Amer presented the results of the discussions he conducted recently in Germany to strengthen cooperation between the two countries in the financial and monetary fields, as well as to support the initial agreement between Egypt and the International Monetary Fund (IMF). The German side asserted its full support of the efforts of the CBE and the government in executing the monetary and financial reform programme.
Amer said during the meeting that the initial agreement reached between Egypt and the IMF is moving forward as planned, the spokesperson added.
The governor also discussed the current situation regarding the monetary policy and the fruitful cooperation between the CBE and the government to support the steps the latter has taken to execute structural reforms, maintain financial stability, and reduce the general budget deficit.
Youssef said that the president put an emphasis on taking all the necessary measures to continue reducing public debt and increasing cash reserves.
In the meeting, Al-Sisi also said that low-income citizens and the segments of society that deserve the most support would be taken into the highest consideration so that reform measures do not affect them. Within that framework, the president asserted the importance of providing the necessary financial resources to provide basic commodities for citizens and maintain the stability of their prices.
Amer said that the CBE is keen to provide the required monetary resources to supply citizens with the necessary basic commodities, medicine, and energy.
