{"id":618619,"date":"2024-04-17T00:00:00","date_gmt":"2024-04-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/its-day-three-of-the-imf-and-world-banks-spring-meetup\/"},"modified":"2024-04-17T00:00:00","modified_gmt":"2024-04-17T00:00:00","slug":"its-day-three-of-the-imf-and-world-banks-spring-meetup","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/17\/its-day-three-of-the-imf-and-world-banks-spring-meetup\/","title":{"rendered":"It\u2019s day three of the IMF and World Bank\u2019s spring meetup"},"content":{"rendered":"

Good morning, folks. <\/strong>It\u2019s all about the IMF in today\u2019s issue, with the Fund\u2019s latest report giving its latest growth forecasts for Egypt, the region, and the wider world. And if that wasn\u2019t enough IMF news for you, a whole host of senior Egyptian ministers are in Washington this week for the the IMF and World Bank\u2019s spring meetings. <\/p>\n

We\u2019ve got this and so much more<\/strong> in the issue this morning. So, let's jump right in.<\/p>\n

** DID YOU KNOW that we now cover Saudi Arabia and the UAE?<\/strong><\/p>\n

** Were you forwarded this email? <\/strong>Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge. <\/p>\n

PSA-<\/p>\n

WEATHER-<\/strong>It\u2019s a hot, summer, and dusty day in Cairo today, with a high of 36\u00b0C and a low of 22\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s much the same in Alexandria<\/strong>, with a high of 36\u00b0C and a low of 18\u00b0C.<\/p>\n

While over in the UAE, <\/strong>it didn\u2019t rain lizards and frogs yesterday, but <\/strong>flying patio<\/a><\/strong>furniture was a thing<\/a><\/strong> as torrential rain led to power outages, flooding, and property damage in Dubai. Water coursed through the Mall of the Emirates<\/a> and a conference in festival city<\/a>. Runways at Dubai International Airport were also flooded, prompting a 25-minute shutdown and the cancellation of dozens of flights. And cars did their best submarine imitation on major roadways.<\/p>\n

In context: <\/strong>It was the most single-day rainfall<\/a> the UAE has seen in 75 years.<\/p>\n

HAPPENING TODAY- <\/p>\n

<\/a> It\u2019s day three of the <\/strong>IMF and World Bank spring meetings<\/a><\/strong> and a number of our ministers are in Washington to take part in the meetings and make the rounds. Check out the full schedule for the gathering \u2014 which kicked off in Washington on Monday and runs through 20 April \u2014 here<\/a>.<\/p>\n

#1- El Said to take the stage: <\/strong>Planning Minister Hala El Said will share her insights<\/a> on improving economic stability in conflict-affected regions in a panel discussion titled Policymaking in Times of Conflict and Instability<\/a>. During her time in Washington, El Said will also participate in symposiums on promoting comprehensive growth and gender equality, capital flows, and economic forecasts for the Middle East and Asia.<\/p>\n

#2- Al Mashat also has a packed schedule:<\/strong> International Cooperation Minister Rania AlMashat is participating in a number of talks and high-level events throughout the spring meetup. Later today, Al Mashat will take part in the African Consultative Group\u2019s ministerial meeting<\/a> with World Bank president Ajay Banga before taking part in the Peterson Institute\u2019s conference<\/a> on rethinking economic policy, according to a statement<\/a> from the ministry. <\/p>\n

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ALSO- CultureFest kicks off today: <\/strong>The AUC\u2019s Tahrir CultureFest<\/a> \u2014 held at AUC Tahrir Square running from today until Monday \u2014 is a celebration of the Cairene spirit. Panel discussions about Cairo\u2019s history, people, and evolving culture will kick off the festival, and will be accompanied by live music, a book bazaar, a local market, and art exhibitions. Register for the event here<\/a>.<\/p>\n

WORTH NOTING FROM DAY TWO OF THE IMF AND WORLD BANK\u2019S SPRING MEETUP-<\/p>\n

<\/a> #1- <\/strong>Maait on economic stability: <\/strong>Finance Minister Mohamed Maait yesterday held a one-on-one conversation with the IMF\u2019s Middle East and Central Asia head Jihad Azour under the title Egypt: Lessons in Restoring Macroeconomic Stability<\/a>.<\/p>\n

The finance minister has a three-point plan<\/strong> to make sure that Egypt keeps up the momentum of its economic reform agenda following the float in the face of an increasingly difficult situation across the region:<\/p>\n