Arab Finance: Dr. Mustafa Madbouly, Prime Minister, Dr. Mohamed Moait, Executive Director, Member of the Executive Director, met the representative of the Arab Group and Maldives at the International Monetary Fund; To follow up on a number of joint cooperation files with the fund, according to Statement cabinet.
Counselor Mohamed Al -Homsani, spokesman for the Presidency of the Council of Ministers, said that the meeting came to follow up the approval of the Council of Executive Directors of the International Monetary Fund to complete the fourth review of the economic reform program implemented by the Egyptian government in cooperation with the International Monetary Fund.
“Al -Homsani” added: The meeting witnessed that the segment due for the fourth review was disbursed at a value of 1.2 billion dollars, as it was confirmed that the economic reform program contributes efficiently to the return of stability to the indicators of the macroeconomic economy and increased levels of foreign exchange reserves and meet the necessary financing needs, low levels of inflation and recovering indicators of economic growth.
During the meeting, the approval of the CEO of the International Monetary Fund was followed up on the Egypt program with the Sustainability and Squad Fund, which provides long -term financing at a soft cost of $ 1.3 billion, as well as following up the implementation of the fifth review of the economic reform program during the coming period.
Al -Homsani also pointed out that the meeting touched on the follow -up of the developments of the regional and international economic conditions and the position of the upcoming meetings in the International Monetary Fund, during the current month, in light of the current developments on the global and regional arenas, especially with regard to the economic conditions and the expected influences on the global trade system and growth rates.
“Al -Homsani” explained that the Prime Minister continued with Dr. Mohamed Moait, the files of cooperation with the International Monetary Fund, and the most important axes and components expected during the coming period of the cooperation program with the Fund.
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