IMF’s Georgieva endorses Egypt’s reforms at Riyadh WEF Summit

Daily News Egypt
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International Monetary Fund (IMF) Managing Director Kristalina Georgieva reaffirmed the IMF’s backing for Egypt’s structural reform measures. She commended the steps taken by the Egyptian government, highlighting their positive impact on the nation’s economy.

These remarks came during the opening session of the World Economic Forum’s special meeting held this morning in Riyadh, Saudi Arabia.

Egyptian Prime Minister Mostafa Madbouly participated in the session.

Prime Minister Madbouly met with Georgieva, where he expressed his appreciation for the ongoing collaboration between the Egyptian government and the IMF.

He emphasized that the IMF’s approval to increase the value of its financing program for Egypt reflects the significant confidence the global financial institution has in the Egyptian economy.

During a dialogue session on the first day of the forum, Georgieva stressed the importance of the economic reforms undertaken by the Egyptian state in achieving the desired outcomes in the coming period.

“Challenges of declining global growth and disparities in growth rates between countries underscore the importance of international cooperation,” Georgieva added. “This cooperation can be achieved through increasing growth rates and fostering a more equitable distribution of wealth, which is what various countries have successfully accomplished throughout the twentieth century.”

The opening session, titled “A New Vision for Global Development,” attracted a large audience. Heads of state and government, along with other officials, participated in the activities of the World Economic Forum’s special meeting held at the King Abdulaziz International Conference Center in Riyadh.

On the sidelines of the session, Prime Minister Madbouly held meetings with various leaders, heads of government, and officials from international institutions. This included a meeting with Jordanian Prime Minister Bishr Khasawneh. The meeting served to reaffirm the strong relations between Cairo and Amman and the need to intensify joint efforts in coordinating responses to current regional challenges.

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