International Monetary Fund (IMF) Deputy Managing Director Nigel Clarke praised Egypt's handling of its economy during a meeting with Central Bank Governor Hassan Abdalla on the sidelines of the IMF and World Bank Spring Meetings in Washington. According to a statement by the Central Bank of Egypt (CBE) on Sunday, Clarke commended the Egyptian authorities for their commitment to implementing economic reforms and managing a series of external shocks that have weighed on emerging markets globally. The discussions centered around Egypt's macroeconomic indicators and areas of joint cooperation, against the backdrop of the country's ongoing economic reform programme supported by the IMF. The meeting was attended by key Egyptian officials, including Planning Minister Rania Al-Mashat, Finance Minister Ahmed Kouchouk, Egypt's Executive Director at the IMF Mohamed Maait, and CBE Deputy Governor Rami Aboul Naga, among others. From the IMF side, Taline Koranchelian, Deputy Director of the Middle East and Central Asia Department, also took part in the meeting. Last week, the IMF raised its GDP growth forecast for Egypt, projecting expansion of 3.7 per cent in 2025, up from its January estimate of 3.6 per cent. According to the IMF's World Economic April 2025 Outlook database, the fund also lifted its outlook for 2026 to 4.3 per cent (versus 4.1 per cent previously). It expects growth to accelerate further in subsequent years, forecasting 4.8 per cent in 2027, 5.1 per cent in 2028, 5.2 per cent in 2029, and 5.5 per cent in 2030. Egypt's government is pressing ahead with its reform agenda, which includes measures to strengthen fiscal discipline, enhance exchange rate flexibility, and improve the investment climate. Attribution: Amwal Al Ghad English
