IMF ready to back Egypt: Presidency

Egyptian presidency has said that IMF chief Christine Lagarde said in a statement her organization was ready to support Egypt.

IMF ready to back Egypt: Presidency

World Bulletin / News Desk 

International Monetary Fund (IMF) chief Christine Lagarde said Saturday that her organization was ready to support Egypt in every way possible, the Egyptian presidency has said.

It added in a statement that the IMF chief said she was pleased to attend a recent investment conference in Egypt's resort city of Sharm el-Sheikh.

"She praised the success of the conference as well as the level of participation in it," the presidency added of Lagarde.

Egypt signed investment agreements and memoranda of understanding during the conference to the total value of $60 billion, according to Prime Minister Ibrahim Mahlab.

The presidency said in its statement that Lagarde also lauded recent legislative reforms in Egypt.

Egypt unveiled a host of investment projects during the investment conference, which was held in March.

The Arab state received a total of $4.7 billion in foreign investments during the 2013/14 fiscal year.

The Egyptian government expects a 4 percent GDP growth in 2014/15, up from 2.1 percent during the previous fiscal year.

Last Mod: 05 Nisan 2015, 12:16
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