Egypt must stay the course on reforms and start moving towards its plans for deeper reforms, including doubling down on investments in healthcare, education, and infrastructure to create sustainable, long-lasting growth, Mahmoud Mohieldin said. The IMF executive board member has interview with Kelma Akhira's Lamees El Hadidi on prospects for individual Arab economies and the global economy at large heading into 2021 The government has so far shown a high degree of commitment to the program, which has helped Egypt earn and maintain the confidence of international organizations such as the IMF, he told Lamees. Mohieldin sees the global economy bounce back next year to register 2-3% growth if the covid-19 vaccines are 85-95% effective, but the recovery is going to vary greatly between individual sectors (think tourism versus fintech, for example) and also between countries that suffered or benefited differently from the pandemic. Mohieldin also touched on the situation in Lebanon, stressing that a political resolution is the only absolute fix for the economy.
