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Tuesday, 14 March 2017

On the horizon

World Bank postpones visit, Egypt positioned to lead WBG’s African board in 2018:The World Bank Group has postponed until April its visit, previously expected this week, to assess progress on Egypt’s economic reform agenda, Al Borsa reports. Investment and International Cooperation Minister Sahar Nasr had met with a WB workgroup regarding the organization’s Doing Business report, as we noted last week. Egypt was selected as the new first vice-chairperson of the World Bank and IMF Board of Governors for African Countries, Zawya reports. Nasr said the new position “paves the way to Egypt’s leadership of the board” in 2018 a position currently held by Benin.

Meanwhile, Prime Minister Sherif Ismail met with World Bank Vice President for Global Practices Jan Walliser yesterday to discuss economic reform and his government’s bid to raise Egypt’s ranking in the Doing Business report, according to a cabinet statement. Shocking exactly no one, Walliser stressed the importance of pressing ahead with reforms and passing key pieces of legislation to improve the country’s business and investment climate.

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