IMF stresses need to maintain flexibility of exchange rate in Egypt

IMF stresses need to maintain flexibility of exchange rate in Egypt

Deputy Director of the Fiscal Affairs Department of the International Monetary Fund, Katherine Baer, stressed the need to maintain the flexibility of the exchange rate in Egypt.

Baer stressed, during a recorded speech that she delivered at the outset of the intellectual forum of the Information and Decision Support Center (IDSC) of the cabinet in Egypt.

The need to maintain the flexibility of the exchange rate in Egypt, while ensuring prudential fiscal and monetary policies and the continuation of structural and governance reforms.

She added that the weak expectations of global economic growth, tightening fiscal policies and rising commodity prices led to an increase in financing needs.

This is especially evident in light of the exit of a large amount of capital from Egypt, following the Ukraine war crisis which requires the development of a set of public policy measures.

Baer Fund stressed the need to maintain macroeconomic stability, ensure the continuity of debt sustainability, protect vulnerable groups and promote private sector growth.

She also pointed out that enhancing revenues and continuous reform of public financial conditions are among the most important policies to reduce public debt: along with the need to support social protection networks according to precise criteria to determine the targeted and eligible