Egypt FM meets IMF chief in Washington

Egypt's Foreign Minister Sameh Shoukry met on Monday with International Monetary Fund Managing Director Christine Lagarde during his visit to the US.

The meeting touched on the latest developments of a loan agreement signed between Egypt and the IMF.

They discussed also the economic and social developments in Egypt along with an ongoing economic reform program implemented by the Egyptian government, said the foreign ministry's spokesman Ahmed Abu-Zeid.

Shoukry asserted during the meeting the government's commitment to carrying out all elements of the reform program and addressing all challenges related to this program, said Abu-Zeid.

The top diplomat noted that decisions taken as part of the program were long awaited and that their implementation now confirmed that the Egyptian side was committed to put into effect restructuring reforms in the economy to overcome the current economic hardship.

Lagarde, for her part, said she was very pleased with Egypt's ability to go ahead with the reform program by these serious steps, said the spokesman.

She said Cairo's success in accomplishing the program will be a success for the IMF. It will be an example to be followed by several countries, she added.

She said the IMF's board and all officials pay special attention to ensure the implementation of the whole Egyptian reform program.

Executive Director of the Arab Group at IMF, Hazem El-Beblawi, who attended the meeting, said the first stage of the program is the most difficult and success in its implementation will pave the way for completing the remaining phases.

He pointed out to broad positive interaction of the people to the program as one of the most important aspects.

Source: MENA