# Statement by IMF First Deputy Managing Director David Lipton on Meeting with Egypt’s President
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2018-05-08
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: IMF Statement: Egypt's Economic Progress Discussed with
Meta Description: Following a meeting with President El Sisi, IMF's David Lipton lauded Egypt's economic reforms, citing growth, reduced inflation, record reserves, and
URL: https://financedigest.com/statement-by-imf-first-deputy-managing-director-david-lipton-on-meeting-with-egypts-presidenthtml

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Following a meeting with Egypt’s President Abdel Fattah El Sisi in Cairo today, Mr. David Lipton, First Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement:

“President El Sisi and I discussed Egypt’s economic outlook and progress in Egypt’s reform program supported by the IMF. The reforms have started to reap results, especially with regard to Egypt’s macroeconomic stabilization: [growth is at the highest rate](https://www.financedigest.com/atomic-spectroscopy-market-market-is-expected-to-show-the-highest-growth-rate-during-the-forecast-period-2022-to-2025.html "Atomic Spectroscopy Market market is expected to show the highest growth rate during the forecast period 2022 to 2025") since 2008, inflation has rapidly declined, foreign exchange reserves are at record levels, exports are growing and unemployment has declined.

“We also discussed the outcome of the Inclusive [Growth and Job](https://www.financedigest.com/wall-street-muted-on-jobs-growth-as-inflation-delta-fears-weigh.html "Wall Street muted on jobs growth as inflation, Delta fears weigh") Creation Conference \[link to the PR announcing the conference\], co-organized by the Egyptian authorities and the IMF in Cairo May 5-6. I was encouraged by the determination, [shared by policy makers](https://www.financedigest.com/sports-nutrition-market-share-revenue-and-average-worth-by-makers-shared-in-an-exceedingly-latest-analysis-report.html "Sports Nutrition Market SHARE, REVENUE, AND AVERAGE WORTH BY MAKERS SHARED IN AN EXCEEDINGLY LATEST ANALYSIS REPORT"), the private sector, members of the parliament and civil society. There was consensus that Egypt needs to lock in the [gains in macroeconomic stabilization and shift gears towards the implementation of a home-grown structural reform agenda to achieve more inclusive and private sector-led growth](https://www.financedigest.com/dollar-pares-gains-as-us-growth-contracts-for-second-quarter.html "Dollar pares gains as US growth contracts for second quarter"). This will help create jobs, which is the best way to reduce poverty and improve living standards. In this context, the conference also benefited from the participation of former senior policymakers from Korea, India and Malaysia who shared their reform experiences.

“I thanked President El Sisi, Prime Minister Sherif Ismail, Governor of the [Central Bank](https://www.financedigest.com/marketmind-rba-shock-hike-starts-huge-week-for-central-banks.html "Marketmind: RBA shock hike starts huge week for central banks") of Egypt Tarek Amer and the Minister of Finance Amr El Garhy for co-hosting the conference. As we [continue our partnership](https://www.financedigest.com/impact-com-continues-momentum-in-the-first-quarter-fueled-by-client-growth-new-products-and-partnership-events.html "impact.com Continues Momentum in the First Quarter, Fueled by Client Growth, New Products and Partnership Events"), we stand ready to help Egypt achieve a better future for its people.”


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