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IMF to address Egypt’s economic challenges

The International Monetary Fund (IMF) said on Monday it would support Egypt to address its economic and financial challenges to ensure growth and development in the North African country.

An IMF statement made available to PANA in New York said the decision was reached at the end of a visit by Mr. Masood Ahmed, Director of the Middle East and Central Asia Department at the IMF headquarters in Washington, DC, US.

It disclosed that Ahmed visited Cairo on 17 March, during which he met with Prime Minister Hisham Kandil, Central Bank of Egypt Governor Hisham Ramez, Finance Minister Al-Mursi Hegazy, Minister of Planning and International Cooperation Ashraf Al-Araby and other officials.

The IMF official said the Fund was committed to supporting Egypt “in this endeavour”, adding: “We agreed that our discussions would continue diligently over the coming weeks with the aim of reaching agreement on possible financial support from the IMF.”


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