The International Monetary Fund (IMF) mission in Egypt, Ivanna Vladkova Hollar, emphasized the importance of comprehensive reforms during a recent press conference. According to Hollar, all reforms are equally urgent and interconnected, highlighting the need to focus on multiple areas simultaneously.
Hollar specifically mentioned the necessity of liberalizing Egypt’s exchange rate system, targeting inflation, increasing tax revenues, controlling debt, and improving the public financial situation. Structural reforms and empowering the private sector were also highlighted as key priorities.
The IMF head stressed the importance of freeing the pound’s exchange rate from restrictions against the dollar. Despite some delays in implementing certain reforms, the IMF’s approval of Egypt’s progress indicates positive development.
Overall, the message is clear: Egypt’s economic reform is on the right track, albeit with some room for improvement. By staying committed to structural reforms and prioritizing the private sector, Egypt can continue its journey towards a more stable and prosperous economy.