IMF praises CBE policies to control inflation rate

CAIRO - 29 September 2017: The International Monetary Fund (IMF) praised on Friday the Central Bank of Egypt (CBE) policies to control inflation rate in the country.

The CBE measures will take some time to bear fruits, the IMF tweeted in response to MENA.

The economic reform program adopted by the Egyptian government aims at promoting economic stability in the country, the fund noted.

Answering a question on the second review of the performance of the Egyptian economy, slated for October, the fund said the review will take into account the latest economic developments and its vision of the economic reform program on the medium term.

The Central Bank of Egypt on Thursday decided to keep the key interest rates unchanged.

The CBE kept the rate for the overnight deposit at 18.75 percent and for the overnight lending at 19.75 percent.