{"id":638797,"date":"2017-10-15T03:54:26","date_gmt":"2017-10-15T03:54:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/15\/reforms-to-bear-fruit-interest-rates-too-high-ybg\/"},"modified":"2017-10-15T03:54:26","modified_gmt":"2017-10-15T03:54:26","slug":"reforms-to-bear-fruit-interest-rates-too-high-ybg","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/15\/reforms-to-bear-fruit-interest-rates-too-high-ybg\/","title":{"rendered":"Reforms to bear fruit, interest rates too high -YBG"},"content":{"rendered":"

<\/a> Rare interview with YBG: <\/strong>Egypt finally took the \u201cbitter medication\u201d of economic reform and it will bear fruit in time, former Finance Minister Youssef Boutros Ghali told Al Shorouk<\/a> on the sidelines of the IMF and World Bank fall meetings. Egypt\u2019s only solution is to be able to reach economic growth rates of 5% and over in order to increase employment opportunity, he says. He is also not concerned by the levels of public debt, but says the government\u2019s budget needs to be tightened. YBG also believes the current interest rate environment to be too high and not conducive to investment. The rate need to be lowered to stimulate credit demand, he says. Looking back to his tenure in government, he said a problem that often faced the government was the long time it took former President Hosni Mubarak to approve decisions, and this made the future reform bill costlier.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rare interview with YBG: Egypt finally took the \u201cbitter medication\u201d of economic reform and it will bear fruit in time, former Finance Minister Youssef Boutros Ghali told Al Shorouk on the sidelines of the IMF and World Bank fall meetings. Egypt\u2019s only solution is to be able to reach economic growth rates of 5% and […]<\/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":[9411],"tags":[72,9410],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-638797","post","type-post","status-publish","format-standard","hentry","category-on-deadline","tag-enterpriseam","tag-on-deadline","wpautop","entry"],"acf":{"mongo_id":"39d0e995-5bd2-4a63-9ea0-4cf6317a2a53","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[638773],"teaser":"","voice_url":""},"yoast_head":"\nReforms to bear fruit, interest rates too high -YBG - 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\/2017\/10\/15\/reforms-to-bear-fruit-interest-rates-too-high-ybg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reforms to bear fruit, interest rates too high -YBG\" \/>\n<meta property=\"og:description\" content=\"Rare interview with YBG: Egypt finally took the \u201cbitter medication\u201d of economic reform and it will bear fruit in time, former Finance Minister Youssef Boutros Ghali told Al Shorouk on the sidelines of the IMF and World Bank fall meetings. Egypt\u2019s only solution is to be able to reach economic growth rates of 5% and […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/15\/reforms-to-bear-fruit-interest-rates-too-high-ybg\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-15T03:54:26+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/15\/reforms-to-bear-fruit-interest-rates-too-high-ybg\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/15\/reforms-to-bear-fruit-interest-rates-too-high-ybg\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Reforms to bear fruit, interest rates too high -YBG\",\"datePublished\":\"2017-10-15T03:54:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/15\/reforms-to-bear-fruit-interest-rates-too-high-ybg\/\"},\"wordCount\":160,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"On Deadline\"],\"articleSection\":[\"On Deadline\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/15\/reforms-to-bear-fruit-interest-rates-too-high-ybg\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/15\/reforms-to-bear-fruit-interest-rates-too-high-ybg\/\",\"name\":\"Reforms to bear fruit, interest rates too high -YBG - 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In an interview with DMC\u2019s Osama Kamal, the always brilliant YBG said the EGP float was \u201c100% the right decision to make\u201d despite coming three years too late. Boutros Ghali believes that the budget deficit is the single biggest\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":603139,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/16\/boutros-ghali-says-no-need-for-another-imf-loan-but-experienced-govt-needed\/","url_meta":{"origin":638797,"position":2},"title":"Boutros Ghali says no need for another IMF loan, but experienced gov\u2019t needed","author":"enterpriseam admin","date":"16 April 2019","format":false,"excerpt":"YBG says another IMF facility is unnecessary: Egypt does not need another IMF loan, but the government needs to appoint experienced leaders, former Finance Minister Youssef Boutros Ghali told the local press. \u201cThe IMF's procedures are difficult but necessary, and the Egyptians absorbed the shock, but we have to concentrate\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645292,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/17\/raising-interest-rates-will-have-widespread-negative-repercussions-and-reap-few-benefits\/","url_meta":{"origin":638797,"position":3},"title":"Raising interest rates will have widespread negative repercussions, and reap few benefits","author":"enterpriseam admin","date":"17 July 2017","format":false,"excerpt":"Raising interest rates will have widespread negative repercussions, and reap few benefits, Mohamed Ali Ibrahim writes in a column penned for Al Masry Al Youm. In addition to bringing investment to a grinding halt due to the high cost of borrowing, high rates will significantly increase the state\u2019s debt service\u2026","rel":"","context":"In "On Deadline"","block_context":{"text":"On Deadline","link":"https:\/\/enterpriseam.com\/egypt\/category\/on-deadline\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":604717,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/11\/egypts-interest-rates-remain-the-biggest-hurdle-for-investments-says-emirates-nbds-mark-haddad\/","url_meta":{"origin":638797,"position":4},"title":"Egypt\u2019s interest rates remain the biggest hurdle for investments, says Emirates NBD\u2019s Mark Haddad","author":"enterpriseam admin","date":"11 December 2018","format":false,"excerpt":"Egypt\u2019s economic progress is \u201cremarkable,\u201d but high interest rates remain the biggest hurdle to investment in the real economy, Emirates NBD Senior Portfolio Manager Marwan Haddad told Bloomberg TV. \u201cIt\u2019s very tough for anyone sitting in Egypt to let go of a 20% return\u201d by parking cash in banks and\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\/2018\/12\/3073.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632132,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/04\/the-private-sector-is-indispensable-for-economic-growth\/","url_meta":{"origin":638797,"position":5},"title":"The private sector is indispensable for economic growth","author":"enterpriseam admin","date":"4 February 2018","format":false,"excerpt":"The private sector is Egypt\u2019s best bet for real economic growth and the state must pave the way for it to flourish, Fahim Mostafa writes for Al Borsa. 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