BLOOMBERG/SIMA DIAB
Egypt said the International Monetary Fund (IMF) is interested in starting a new programme to preserve the success achieved by its $12 billion loan agreement, reported Bloomberg.
In a statement the Prime Minister’s office said that while lauding Egypt’s efforts over the past three years, the IMF’s new Managing Director said that the fund needed to make a greater effort in developing the country’s human capital.
In a meeting with Prime Minister Mostafa Madbouly, Kristalina Georgieva, the IMF Managing Director stressed the fund’s desire to start a strong cooperation programme with Egypt in the coming period, in order to preserve the achievements realised under the reform programme and to aid with efforts” to boost structural changes.
The IMF programme is credited with helping restore investor confidence in the most populous Arab country, though critics say austerity measures to repair public finances have led to rising poverty rates.
MOST READ
ECONOMY
UBS launches new private client programECONOMY
Jordan agrees $1.3 billion IMF programmeECONOMY
Banque du Liban rules out ‘haircut’ on depositsECONOMY
Expo 2020 Dubai to contribute 1.5 per cent to...ECONOMY
Sharjah announces AED 29.1 billion 2020 budgetECONOMY
Turkish lira falls as regulator intervenesECONOMY
Saudi unemployment dips to 12 per cent in Q3...ECONOMY
Saudi Arabia to invest much of its Aramco IPO...
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
