IMF: Egypt overcame most difficult stage of economic reform

SHARM EL SHEIKH - 5 August 2018: Egypt has overcame the toughest phase in its economic reform program, International Monetary Fund (IMF) Executive Director Hazem Beblawi said, adding the next stage will be easier.

On the sidelines of a reception held for participants in the annual meetings of the African Caucus of the World Bank (WB) Group and International Monetary Fund (IMF) on Saturday, Beblawi pointed out that the Egyptian government had accomplished the reforms called for by the IMF.

He also thanked the government for such reform measures.

Holding the annual meetings this year in Sharm El Sheikh reflects the trust in the Egyptian economy, he added.

The IMF program in Egypt will end in 2019, the IMF official noted, adding that another economic reform program could be implemented in case of a request submitted by the Egyptian government.

He also said that Egypt executed all commitments required during the ongoing economic reform program.