CAIRO, May 18 (MENA) - International Monetary Fund (IMF) Deputy Managing Director Nigel Clarke has emphasized the fund's commitment to supporting the Egyptian economy, especially that it is highly promising with great potential that enables it to reach broader horizons.

This came during a meeting held on Sunday at the government headquarters in the New Administrative Capital between Prime Minister Mostafa Madbouly and the IMF deputy managing director along with his accompanying delegation on the sidelines of the IMF delegation's ongoing visit to Egypt for consultations on the fifth review of the economic reform program being implemented by the Egyptian government and the Central Bank of Egypt (CBE) in cooperation with the IMF.

The meeting was attended by CBE Governor Hassan Abdullah, Minister of Planning, Economic Development and International Cooperation Rania el Mashat, Minister of Finance Ahmed Kouchouk, as well as Mohamed Maait, Executive Director, Member of the Board of Executive Directors, and Representative of the Arab Group and Maldives at the IMF.

Clarke expressed his deep appreciation for the efforts made by the Egyptian government to implement the economic reform program, pointing out that it is purely Egyptian.

Meanwhile, the prime minister expressed his appreciation for the fruitful cooperation between the government and the IMF as well as for the substantial support provided by the fund for the implementation of Egypt’s economic reform program.

Egypt's political leadership values ongoing cooperation between the two sides, Madbouly said, pointing out to his aspiration for a successful completion of the fifth review of the country's economic reform program.

The prime minister reviewed the positive outcomes of various economic indicators, confirming that Egypt is on the right track regarding inflation and unemployment rates.

He also talked about what has been achieved in the initial public offering (IPO) program, noting that the Egyptian government has executed 21 deals as part of the IPO program over the past three to four years. (MENA)

I S N/R G E