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Tuesday, 14 February 2023

El Sisi meets with IMF’s Georgieva at Dubai World Government Summit

President Abdel Fattah El-Sisi had a busy day on the sidelines of the World Government Summit in Dubai, meeting with IMF Managing Director Kristalina Georgieva, UAE Vice President and Prime Minister Mohammed bin Rashed Al Maktoum, and private sector executives.

El Sisi x Georgieva: Our USD 3 bn loan agreement with the IMF — and the economic reform program to which it is attached— unsurprisingly topped the agenda in talks between El Sisi and the Fund’s most senior official. El Sisi reaffirmed the country’s commitment to fiscal and monetary structural reforms and increasing the private sector’s role in the economy, efforts that Georgieva said the lender would continue to support, according to an Ittahidiya statement.

El Sisi x Al Maktoum: The Dubai ruler and El Sisi reaffirmed the strength of Egypt-UAE relations in bilateral talks, according to a separate Ittihadiya statement. The meeting came against the backdrop of an online spat between some regional commentators over the level of support our Gulf neighbors have offered to help the country weather economic headwinds (More on that in our talk shows coverage, above.)

El Sisi x global execs: El Sisi met with the heads of unnamed companies including tech, AI, and e-commerce to drum up FDI. He discussed potential projects in which the firms could invest and outlined ongoing reforms meant to boost the local operating environment, according to a third Ittahidiya statement.

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