{"id":16154,"date":"2018-09-24T09:24:18","date_gmt":"2018-09-24T09:24:18","guid":{"rendered":"http:\/\/qatar-news.org\/qatarnewsEn\/?p=16154"},"modified":"2018-09-24T09:24:18","modified_gmt":"2018-09-24T09:24:18","slug":"imf-says-egypts-structural-reforms-key-for-sustainable-development","status":"publish","type":"post","link":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=16154","title":{"rendered":"IMF says Egypt\u2019s structural reforms key for sustainable development"},"content":{"rendered":"<div data-nid=\"1376851\" readability=\"31.6075124569\">\n<div class=\"grid-x entry-article-inner align-center\">\n<div class=\"cell large-shrink\">\n<div class=\"entry-aside-info stick-aside-info show-for-large\" data-nid=\"1376851\">\n<p>\nUpdated 4 min 8 sec ago <\/p>\n<p>\n<time>September 24, 2018<span> 05:56<\/span><\/time><\/p>\n<p><span class=\"views-count-placeholder nid-1376851\"><i class=\"icomoon-icon icon-views\"><\/i><span>0<\/span><\/span> <\/p>\n<\/div>\n<\/div>\n<div class=\"cell large-auto\" readability=\"14.8961038961\">\n<div class=\"printable-area\" readability=\"25\">\n<h2>IMF says Egypt\u2019s structural reforms key for sustainable development<\/h2>\n<div class=\"img-area show-for-printable-area\">\n<p><img decoding=\"async\" src=\"http:\/\/www.arabnews.com\/sites\/default\/files\/styles\/n_670_395\/public\/main-image\/2018\/09\/24\/1320951-507395149.jpg?itok=MqNhib4i\" alt=\"\">\n<\/div>\n<div class=\"entry-highlight\">\n<ul>\n<li>Egypt has implemented tough reforms under a $12 billion loan program agreed in late 2016<\/li>\n<li>Egypt\u2019s inflation eased to its lowest level in almost two years in May<\/li>\n<\/ul>\n<\/div>\n<div class=\"entry-meta hide-for-large no-print\">\n<p>\nUpdated 4 min 8 sec ago <\/p>\n<p>\nReuters\n<\/p>\n<p>\n<time>September 24, 2018<span> 05:56<\/span><\/time><\/p>\n<\/div>\n<p>\nCAIRO: IMF managing director Christine Lagarde has praised Egypt\u2019s economy saying it was showing \u201cstrong signs of recovery\u201d under a three-year reform plan, and stressed the importance of structural reforms to achieve more sustainable development.<br \/>Egypt has implemented tough reforms under a $12 billion loan program agreed in late 2016 that involved deep cuts to energy subsidies, new taxes, and a floated currency in a bid to draw back investors who fled after its 2011 uprising.<br \/>Financial markets have been closely watching how the government keeps to the terms of the deal, which has helped Cairo receive loan installments on schedule.<br \/>In a statement after she met with Egyptian President Abdel Fattah El-Sisi in New York on Sunday, Lagarde said the IMF remained committed to supporting Egypt.<br \/>\u201cEgypt\u2019s economy is showing strong signs of recovery, and its economic growth is among the highest in the Middle East,\u201d Lagarde said in the September 23 statement.<br \/>She said she agreed with El-Sisi on the importance of capitalizing on Egypt\u2019s \u201cmacroeconomic gains to advance the authorities\u2019 home-grown structural reforms.\u201d<br \/>\u201cThese 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,\u201d she added, according to the statement.<br \/>Egypt\u2019s inflation, which had soared to a record high of more than 33 percent in July 2017 after the import-dependent country floated the Egyptian pound in November 2016, eased to its lowest level in almost two years in May.<br \/>Core inflation in August stood at 8.83 percent while foreign reserves reached $44.419 billion compared with $36.143 billion in the same month last year.<br \/>Egypt in June raised fuel and electricity prices as part of the reforms agreed under the IMF plan in measures that had made it harder for ordinary Egyptians to make ends meet. Another fuel price rise is scheduled next year. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Updated 4 min 8 sec ago September 24, 2018 05:56 0 IMF says Egypt\u2019s structural reforms key for sustainable development Egypt has implemented tough reforms under a $12 billion loan program agreed in late 2016 Egypt\u2019s inflation eased to its lowest level in almost two years in May Updated 4 min 8 sec ago Reuters&hellip;<\/p>\n","protected":false},"author":10,"featured_media":16155,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-16154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middle_east_news"],"_links":{"self":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/16154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16154"}],"version-history":[{"count":0,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/16154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/media\/16155"}],"wp:attachment":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}