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IMF Official Lauds Serious Reforms To Enhance Financial Stability In Egypt

Alex Segura-Ubiergo, the IMF’s Resident Representative in Egypt, lauded serious reforms introduced by the Egyptian government to enhance financial stability and the investment climate.

At a symposium organized by the American Chamber of Commerce in Egypt (AmCham Egypt) on Tuesday 2/4/2024, Ubiergo stressed the necessity of preserving the driving force of the Egyptian economy to advance structural reforms, improve the investment environment, reduce inflation and increase economic growth.

He indicated that Egypt implements important measures to ensure macroeconomic stability, while moving ahead with its efforts to protect the most needy categories and strengthen the private sector’s contribution to the development process.

On his part, Chairman of the American Chamber of Commerce in Egypt Tarek Tawfik said the recently-introduced reforms adopted by the Egyptian government are aimed at regaining investors’ confidence, cutting inflation rates, proceeding with structural reforms and eliminating the parallel market of foreign currencies.

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