On Sunday, 23 September, President Abdel Fattah El Sisi met International Monetary Fund Managing Director Christine Lagarde and World Bank President Dr. Jim Yong Kim in New York City on the sidelines of the 73rd session of the United Nations General Assembly.
According to statements released by the Office of the Presidency, President El Sisi expressed to Director Lagarde “appreciation for the constructive cooperation between the government and the IMF to implement the economic reform program,” and “affirmed Egypt’s keenness to continue to cooperate with the IMF.” President El Sisi also noted “that Egypt is keen to provide an atmosphere conducive to business and to attract foreign investment so as to raise growth rates and to reduce unemployment and public debt.”
During his meeting with World Bank President Dr. Jim Yong Kim, President El Sisi “affirmed the great importance that Egypt attaches to developing relations with the World Bank Group, as a key partner for Egypt’s development and being the first international financing institution that Egypt cooperated with to implement the economic reform program.”
For more information, see the below releases from the Office of the Presidency.
President El Sisi Meets IMF Managing Director
President Abdel Fattah El Sisi met on Sunday in New York with the Managing Director of the International Monetary Fund, Christine Lagarde.
The President expressed appreciation for the constructive cooperation between the government and the IMF to implement the economic reform program. He affirmed Egypt’s keenness to continue to cooperate with the IMF. With regard to implementing the economic reform program, the President lauded the Egyptian people’s understanding of the economic measures to effectively and firmly address economic problems so as to achieve true development. President El Sisi also affirmed that Egypt is keen to provide an atmosphere conducive to business and to attract foreign investment so as to raise growth rates and to reduce unemployment and public debt. He reviewed administrative and legislative reforms that have been made to stimulate investment.
Ms. Lagarde commended progress in implementing the economic reform program in Egypt and affirmed that the results that have been achieved confirm that the reform process is making significant progress to which various international institutions attest. Ms. Lagarde also affirmed keenness to continue cooperation with Egypt and to provide the necessary support to make the economic reform program succeed. She reviewed the IMF efforts in the area of technical support with various Egyptian entities, in addition to supporting Egypt to realise the Sustainable Development Goals 2030 as well as programs and social safety nets for limited income and the neediest brackets.
President El Sisi Meets World Bank President
President Abdel Fattah El Sisi met on Sunday in New York with the President of the World Bank, Dr. Jim Yong Kim.
The President affirmed the great importance that Egypt attaches to developing relations with the World Bank Group, as a key partner for Egypt’s development and being the first international financing institution that Egypt cooperated with to implement the economic reform program. This demonstrates the wider cooperation between Egypt and the World Bank in many projects across various fields including developmental projects, providing technical support, enhancing the role of the private sector and supporting the economic reform program.
Dr. Jim Yong Kim confirmed that the World Bank will continue to support Egypt’s economic reform, in light of its successful efforts in implementing the comprehensive economic and social reform program that has resulted in raising growth rates, reducing public debt, realizing economic stability, improving the business and investment climate, redirecting subsidies to the services sector and establishing developmental projects, which subsequently has made Egypt a successful example in achieving stability and implementing the phases of economic reform in record time and under wise leadership in cooperation with the World Bank that will continue from its side to implement cooperation programs with Egypt and to develop relevant coordination frameworks.
The meeting touched on the progress of the economic reform program and the mega development projects that the Egyptian government has recently launched, while taking into consideration the social development aspect, in addition to deliberating on the ongoing cooperation projects between Egypt and the World Bank in the areas of health and education particularly technical education and vocational training. Both sides also discussed ways to enhance cooperation across various fields and to assist the Egyptian government’s efforts in attracting foreign investment.