By Modupe Gbadeyanka
Managing Director of the International Monetary Fund (IMF), Ms Christine Lagarde, has disclosed that her agency was working to help the government of Egypt and its central bank address the rising inflation in the country.
Ms Lagarde made this known after a meeting with the Egyptian President, Mr Abdel Fattah El Sisi in Washington.
The IMF chief said, “President Sisi and I discussed the progress of Egypt’s economic reform program supported by the IMF’s $12 billion Extended Fund Facility arrangement.
“Egypt is implementing a strong economic reform program to help the economy return to its full potential, achieve more growth and create more jobs. We recognize the sacrifices made and the difficulties faced by many Egyptian citizens, especially due to high inflation.”
Ms Lagarde said further that, “The IMF is working to help the government and the Central Bank bring inflation under control and supports the steps the Egyptian authorities are taking to protect its poorest and most vulnerable citizens.”
