Al-Sisi orders review of Egypt’s IMF programme
Egypt’s President Abdel Fattah Al-Sisi has urged the government to reassess the country’s programme with the International Monetary Fund (IMF) in response to current regional and global developments. Speaking at the Global Conference on Population, Health, and Human Development (24PHDC) on Sunday, Al-Sisi emphasized Egypt’s resilience in turning challenges into opportunities.
Al-Sisi highlighted the severe water scarcity Egypt faces due to its population surge from 4 million to 106 million people. He noted that instead of engaging in conflicts to increase its water share, Egypt has invested heavily in water treatment and reuse.
The president explained that Egypt’s economic reform efforts have been divided into two phases. The first phase was successful due to global stability before the COVID-19 pandemic. However, the second phase is struggling amid global economic instability. Al-Sisi stressed the importance of the IMF understanding these challenges.
He also pointed out that regional circumstances have cost Egypt $6bn-7bn in the past 10 months. Despite these difficulties, the state aims to avoid increasing public pressure and continues to pursue economic reforms under challenging conditions.
Deputy Prime Minister and Minister of Health and Population, Khaled Abdel Ghaffar, stated that the government has spent over EGP 10trn in the past decade. He emphasized the significant impact of national projects on human development, with international institutions praising improvements in living standards and health initiatives in Egypt.
Abdel Ghaffar noted that 14 health initiatives have benefited 94 million citizens. For the first time, Egypt’s birth rate has dropped to 2.5 children per woman, with expectations to reach 2.1 by 2030. He reported a decline of 149,000 births in 2023 compared to 2022.
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