Reports
IMF: Liberalizing the exchange rate has enhanced the flow of capital to the Egyptian economy
Director of the Middle East and Central Asia Department at the International Monetary Fund, Jihad Azour, confirmed that the exchange rate liberalization policy that Egypt implemented last March enhanced the flow of capital to the Egyptian economy, and also supported the role of the private sector in implementing its development projects.
Azour stressed – in a press conference today, Thursday, that the policy of liberalizing the exchange rate is a tool to protect the economy from external shocks, saying that the International Monetary Fund team will continue to work with the Egyptian authorities to complete the reform program, anticipating a decline in inflation rates in Egypt and an expansion of… The government for the social programs it is currently implementing. Azour added that the first and second reviews of the Egyptian economy took into account regional developments and their impact on the Egyptian economy. Therefore, the value of the loan was increased from 3 to 8 billion dollars, and it also took into account the developments represented by the high level of investment, noting the importance of the role of the private sector in light of the current state of economic momentum in Egypt.- For more: Elrisala website and for social networking, you can follow us on Facebook
- Source of information and images “rosaelyoussef“
