Daily News Egypt

Egypt must tackle inflation risks: Lagarde - Daily News Egypt

Advertising Area



Advertising Area




Egypt must tackle inflation risks: Lagarde

“Other reforms have to continue, but there has to be a special focus on inflation,” says the IMF’s managing director


The managing director of the International Monetary Fund (IMF), Christine Lagarde, stated during a conference held on Thursday that there is “clearly a question that needs to be addressed, I would say, head-on, and that is inflation.”

She believes that the Egyptian programme that is underway has been very courageous and has led to major reforms for the country; yet, she also believes that other reforms have to continue, but there has to be a special focus on inflation.

“I think that the Central Bank and the Finance Minister of Egypt are both aware and will, I hope, tackle the inflation risk, which is weighing on the population,” she stated.

She said that the $12bn loan programme to Egypt is the second largest financial programme that the IMF is conducting at the moment, adding that it is of critical importance that the Egyptian authorities and the Egyptian people actually endorse the proposals there in order to take the economy forward.

Furthermore, Bloomberg published an article quoting Jihad Azour, director of the fund’s Middle East and Central Asia department, who stated that “available monetary and fiscal policy instruments, including interest rates, can help to contain inflation.”

At a press conference on Friday, Azour said interest rates are “the right instrument” to manage Egypt’s inflation. “This is something that we are discussing with the authorities,” he said, according to Bloomberg.

Advertising Area

Advertising Area



https://www.dailynewsegypt.com/2017/04/23/egypt-must-tackle-inflation-risks-lagarde/
Breaking News

No current breaking news

Daily News Egypt Android App Available for free download on Google play
View
Daily News Egypt Ios App Available for free download on APP Store
View
Social Media Auto Publish Powered By : XYZScripts.com