IMF to Hold Consultations with Egypt on Article IVSource: www.export-egypt.com 11/1/2014, Location: Africa |
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The International Monetary Fund (IMF) has announced that it will send a mission to Egypt, led by chief Chris Jarvis on 11 November for Article IV discussions, according to a statement by the fund.
"They will be there as usual for about two weeks and discuss the country’s economic and financial policies with the government and central bank officials," said IMF Director Gerry Rice. The plans for an Article IV mission were announced on 12 October by the Minister of International Cooperation, Naglaa al-Ahwani, after a meeting in Washington DC with Christine Lagarde, IMF's managing director, during the Fund's autumn meetings. The IMF has not carried out an Article IV consultation with Egypt since March 2010, owing to the political instability following the 25 January revolution against former president Hosni Mubarak. The Egyptian government asked the IMF for a long-delayed economic assessment in the hope of improving the country’s image before a February investment conference, according to the finance ministry. The government said it wants the results published before the Egypt Economic Summit in Sharm al-Sheikh, a conference to boost investment in an economy battered by years of political turmoil and a lack of investor confidence. |
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