Egypt's central bank governor Hassan Abdalla met with International Monetary Fund (IMF) Deputy Managing Director Nigel Clarke in Cairo on Sunday to discuss recent progress in the country's economic reform agenda. The North African country looks to solidify gains under its $8 billion IMF-backed programme. The talks focused on macroeconomic stabilisation, inflation control, and efforts to boost investor confidence. Officials reviewed improving economic indicators, including rising growth rates, increased remittance inflows, and a more attractive investment climate, according to a Central Bank of Egypt (CBE) statement. The meeting comes as Egypt seeks to restore fiscal stability and rebuild foreign reserves amid ongoing reforms tied to its extended fund facility with the IMF. Top officials from both sides attended, including Deputy Governors Rami Aboul Naga and Tarek El-Kholy, IMF Mission Chief Ivanna Vladkova Hollar, Egypt's Executive Director at the IMF Mohamed Maait, and Taline Koranchelian, Deputy Director of the IMF's Middle East and Central Asia Department. Egypt has faced significant external pressures in recent years, including surging inflation and foreign currency shortages, prompting a series of policy adjustments. The central bank and the government have moved to tighten spending, liberalise the exchange rate, and create a more favourable environment for foreign and private investment. The IMF team's visit underscores ongoing coordination as Egypt aims to stay on track with reform milestones and rebuild market confidence. Attribution: Amwal Al Ghad English
