Latest news with #HassanAbdallah
Middle East
3 days ago
- Business
- Middle East
OPEN// PM chairs economic ministerial group meeting
CAIRO, June 11 (MENA) - Prime Minister Mostafa Madbouli chaired a meeting of the economic ministerial group on Wednesday to review several important economic files. The meeting was attended by Governor of the Central Bank of Egypt (CBE) Hassan Abdallah along with the ministers of planning, finance, investment, and supply. The meeting highlighted the progress of the economic reform program as regards the fifth review of the program carried out by the government and CBE in cooperation with the International Monetary Fund (IMF), according to Cabinet Spokesman Mohamed el Homsani. The meeting also tackled the prominent measures implemented under the IMF Resilience and Sustainability Facility (RSF) program, the spokesman added. He noted that the inflation rate in June stands within the target range set by the IMF's quantitative performance criteria, and is expected to decline in 2026. However, there are still some bullish risks due to the implications of protectionist trade policies at the global level, as well as escalating regional tensions and conflicts, the spokesman pointed out. (MORE) M A A/S R E
Zawya
19-05-2025
- Business
- Zawya
CBE Governor meets IMF official to review progress on Egypt's economic reforms
Egypt - Hassan Abdallah, Governor of the Central Bank of Egypt (CBE), met with Nigel Clarke, Deputy Managing Director of the International Monetary Fund (IMF), during Clarke's official visit to Cairo. The meeting, held at the CBE headquarters, focused on reviewing the latest developments in Egypt's ongoing economic reform programme, implemented in collaboration with the IMF. The discussions were attended by key officials, including Mohamed Maait, Executive Director and IMF Executive Board member representing the Arab Group and Maldives; CBE Deputy Governors Rami Abouelnaga and Tarek El-Khouly; Assistant Governor Mohamed Abo Moussa; and senior IMF representatives, including Talin Kouranchelian, Deputy Director for the Middle East and Central Asia; Ivana Vladkova Hollar, Head of the IMF Mission to Egypt; and Alex Segura-Ubiergo, IMF Resident Representative in Egypt. During the meeting, both sides acknowledged the positive trajectory of Egypt's economic indicators, emphasizing the impact of ongoing reform efforts in stabilizing the economy, enhancing growth, and improving the investment climate. The discussions highlighted increased foreign currency inflows, particularly from remittances, as well as coordinated efforts between the CBE and the government to curb inflation and sustain its downward trend. The meeting reflects continued cooperation between Egypt and the IMF as the country moves forward with its reform agenda aimed at achieving macroeconomic stability and long-term growth.
Zawya
06-05-2025
- Business
- Zawya
Egypt: President El-Sisi Meets Prime Minister, Central Bank Governor, and Minister of Finance
Today, President Abdel Fattah El-Sisi met with Prime Minister, Dr. Mostafa Madbouly, Governor of the Central Bank of Egypt, Mr. Hassan Abdallah, and Minister of Finance, Mr. Ahmed Kouchouk. Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, stated that the President was briefed on macroeconomic indicators, as well as the economic and structural reforms and measures the government is implementing. These efforts aim to improve financial and economic indicators through sectoral programs that cover various economic activities, while continuing to expand and enhance social protection programs targeting the most vulnerable groups. The meeting also reviewed updates on the implementation of the economic reform program, increasing productive activities and sectors, as well as diversifying and stimulating economic sectors. This serves to maximize return for the state, contain inflationary pressures, encourage the private sector to drive economic growth and employment, and attract more domestic and foreign investment flows. President El-Sisi emphasized the necessity of continuing and strengthening coordination between fiscal and monetary policies, to ensure their alignment with the state's economic vision. The President reiterated the significance of focusing on increasing foreign currency reserves levels, fulfilling the necessary financing needs to enhance development efforts, sustainably and strongly reducing the debt of state's budget entities and servicing it, and working to reduce external debt. Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
