{"id":625018,"date":"2018-09-25T04:18:31","date_gmt":"2018-09-25T04:18:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/25\/praise-from-imf-world-bank-on-egypts-economic-reforms\/"},"modified":"2018-09-25T04:18:31","modified_gmt":"2018-09-25T04:18:31","slug":"praise-from-imf-world-bank-on-egypts-economic-reforms","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/25\/praise-from-imf-world-bank-on-egypts-economic-reforms\/","title":{"rendered":"Praise from IMF, World Bank on Egypt\u2019s economic reforms"},"content":{"rendered":"

<\/a> **#3<\/strong> REPORT FROM NEW YORK- Praise from IMF, World Bank on the economic reforms:<\/strong> President Abdel Fattah El Sisi and senior members of his administration are in New York for the United Nations General Assembly meeting. There, the president met on Sunday with IMF Managing Director Christine Lagarde, whoissued a statement<\/a> yesterday praising Egypt\u2019s economic reforms.<\/p>\n

Key takeaways from Lagarde\u2019s statement: <\/strong>\u201cPresident El Sisi and I discussed the good progress under Egypt\u2019s economic reform program supported by the IMF\u2019s USD 12 bn Extended Fund Facility. Egypt\u2019s economy is showing strong signs of recovery, and its economic growth is among the highest in the Middle East. \u2026 We agreed on the importance of capitalizing on Egypt\u2019s macroeconomic gains to advance the authorities\u2019 home-grown structural reforms. These reforms will help achieve more sustainable, inclusive and private-sector led growth which will help create jobs for Egypt\u2019s young population, while also ensuring adequate resources are available for social protection. I reiterated the Fund\u2019s commitment to support Egypt and its people.\u201d<\/p>\n

That\u2019s the right message ahead of an IMF delegation visit next month <\/strong>to conduct the lender\u2019s fourth review of how the Sisi administration is doing with the implementation of the reform program.<\/p>\n

World Bank also gave Egypt props:<\/strong> World Bank President Jim Yong Kim lauded the progress Egypt has made on its economic reform program during a meeting with President El Sisi, Investment Minister Sahar Nasr, and Trade and Industry Minister Amr Nassar, according to an Ittihadiya statement<\/a>. Kim reiterated the bank\u2019s support for the remainder of Egypt\u2019s program and discussed ways to attract fresh foreign investment and create more private sector jobs.<\/p>\n

Trump praises Egypt\u2019s war on terror in sit-down with El Sisi:<\/strong> Sisi sat down yesterday with US President Donald Trump yesterday. The Donald piled on the praise for the \u201coutstanding job\u201d Egypt has done fighting terrorism, according to a White House readout of the two presidents\u2019 remarks<\/a>. El Sisi vowed to eliminate terrorism altogether with the US\u2019 support, and the two leaders stressed that US-Egypt relations have \u201cnever been stronger.\u201d Trump also noted that the US is \u201cworking with Egypt on many different fronts, including military and trade. And whatever else you can work, we\u2019re working. And we\u2019re getting along great.\u201d<\/p>\n

El Sisi met overnight with top US business leaders<\/strong>, according to an Ittihadiya statement<\/a>. The president told them that Egypt is keen on improving business ties with the US and pointed to national projects and infrastructure as a means for companies to bolster their investments in Egypt. Among those present was Apache CEO John J Christmann.<\/p>\n

Meeting with Netanyahu?<\/strong>El Sisi also was expected to meet<\/a> yesterday with Israeli Prime Minister Benjamin Netanyahu. We have yet to see any news emerging on that front.<\/p>\n

More diplomacy in NYC: <\/strong>El Sisi also had sit downs with Norwegian Prime Minister Erna Solberg<\/a>, Bulgarian Prime Minister Boyko Borissov<\/a>, and Cypriot President Nicos Anastasiades<\/a>on the sidelines of the UNGA.<\/p>\n

Also in New York, the president gave a speech addressing the <\/strong>Nelson Mandela Peace Summit<\/strong><\/a>, which was held as part of the UNGA to celebrate the 100th year of Mandela\u2019s birth, according to a readout of the speech<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

**#3 REPORT FROM NEW YORK- Praise from IMF, World Bank on the economic reforms: President Abdel Fattah El Sisi and senior members of his administration are in New York for the United Nations General Assembly meeting. There, the president met on Sunday with IMF Managing Director Christine Lagarde, whoissued a statement yesterday praising Egypt\u2019s economic […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625018","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0fbace58-4fac-4d82-93d2-0402243d8090","order":"0","is_powered_by":true,"section_story_id":"c9d52fa4-bfe2-46c6-8ab5-bc9cd3b13f29","story_type":"1","photo_url":"","photo_position":"above","related_issue":[625008],"teaser":"","voice_url":""},"yoast_head":"\nPraise from IMF, World Bank on Egypt\u2019s economic reforms - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/25\/praise-from-imf-world-bank-on-egypts-economic-reforms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Praise from IMF, World Bank on Egypt\u2019s economic reforms\" \/>\n<meta property=\"og:description\" content=\"**#3 REPORT FROM NEW YORK- Praise from IMF, World Bank on the economic reforms: President Abdel Fattah El Sisi and senior members of his administration are in New York for the United Nations General Assembly meeting. 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He\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/153.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562463,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/25\/last-nights-talk-shows-biden-and-el-sisis-call-imfs-mohieldin-on-covid-19-outlook\/","url_meta":{"origin":625018,"position":1},"title":"Last Night\u2019s Talk Shows: Biden and El Sisi\u2019s call + IMF\u2019s Mohieldin on covid-19 outlook","author":"enterpriseam admin","date":"25 May 2021","format":false,"excerpt":"President Abdel Fattah El Sisi and US President Joe Biden\u2019s phone call yesterday on reinforcing the Palestine-Israel ceasefire and reviving the peace process was in the limelight on last night\u2019s talk shows. Ala Mas\u2019ouleety\u2019s Ahmed Moussa (watch, runtime: 5:35) and Masaa DMC\u2019s Jasmine Zaky (watch, runtime: 3:58) had cut-and-dry coverage,\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571680,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/20\/egypts-economic-recovery-post-covid-will-likely-be-u-shaped-el-said-says\/","url_meta":{"origin":625018,"position":2},"title":"Egypt\u2019s economic recovery post-covid will likely be U-shaped, El Said says","author":"enterpriseam admin","date":"20 May 2020","format":false,"excerpt":"Egypt\u2019s economic recovery post-covid is most likely to be U-shaped, rather than V- or W-shaped, Planning and Economic Development Minister Hala El Said said during a webinar hosted yesterday by our friends at AmCham. 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Amer noted that the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/345.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562279,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/18\/sudan-gets-usd-30-bn-worth-of-pledges-to-cover-bilateral-imf-debts\/","url_meta":{"origin":625018,"position":4},"title":"Sudan gets USD 30 bn worth of pledges to cover bilateral, IMF debts","author":"enterpriseam admin","date":"18 May 2021","format":false,"excerpt":"Sudan just got a USD 30 bn lifeline in the form of debt cancellation and funding pledges from IMF members during a conference in Paris yesterday kickstarting its debt relief program, Sky News Arabia reports. France has pledged to cancel USD 5 bn of debts Sudan owes, while Saudi Arabia\u2026","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/137.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":638783,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/15\/imf-world-bank-praise-economic-reform-at-fall-meetings\/","url_meta":{"origin":625018,"position":5},"title":"IMF, World Bank praise economic reform at Fall Meetings","author":"enterpriseam admin","date":"15 October 2017","format":false,"excerpt":"The World Bank expects Egypt\u2019s budget deficit to decline to 8.8% of GDP in FY2017-18, the WBG said in its Egypt Economic Outlook October 2017 (pdf). 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