IMF Mission to Egypt: Improvement in Targeting of Energy Subsidies
Cairo
A staff mission from the International Monetary Fund visited Cairo during April 2-15. At the conclusion, Andreas Bauer, Mission Chief for Egypt, issued the following statement:
“The mission made progress in the discussions with the Egyptian authorities on their economic program and possible financial support from the IMF.
“The authorities have already taken valuable first steps to improve the targeting of energy subsidies and are seeking to broaden their revenue base. They intend to build on these steps with further actions to address – in a socially balanced way – the country’s fiscal and balance of payments deficits, and create conditions for a sustained recovery of the economy.
“The mission was encouraged by the constructive positions and views expressed by the representatives of political parties on economic reforms and possible IMF support. All sides concurred on the need to protect the vulnerable sectors of society when implementing reform measures.
“Discussions with the authorities will continue with the objective of reaching agreement on a possible Stand-By Arrangement in support of Egypt.”
You may have an interest in also reading…
Absalon Project: Sustainable Funding for African Housing
Sub-Sahara Africa has experienced strong economic growth and has developed a more stable political environment over the past twenty years.
Evan Harvey, Nasdaq: SDG Awareness and Action – A Report From the Global Exchange Community
The UN Sustainable Development Goals (SDGs) seek to alleviate social, economic, and environmental problems by the year 2030, but progress
European Council’s Van Rompey: Europe Must Overcome Crisis to Defend Democratic Values
European Council President Herman Van Rompuy’s speech “Europe on the World Stage” recently given in London emphasized the complete change
