Egypt ranks in 114th place on the World Bank’s ease of doing business index/Bloombergby Bloomberg
The Governor of the Central Bank Egypt (CBE) said that the government is in talks with the International Monetary Fund over a non-financial structural reform programme that will help streamline the country’s investment environment.
Tarek Amer, the Governor of CBE, said, “Now that the fiscal and the monetary reform has been done, we’re talking about structural reforms.”
“That step would mean trying to overcome the bureaucracy, which we do have and many other countries have, and which we want really to abolish over time,” said Amer.
Egypt ranks in 114th place on the World Bank’s ease of doing business index.
The governor said that the central bank opened all channels for the flow of capital so investors do not barriers like before. The regulator has also given investors a stable foreign-exchange market that they can read and in which the risk premium is not too high like before.
Amer said that Egypt is still in discussions with the IMF, without specifying when any new agreement may be reached.