The head of the International Monetary Fund (IMF) mission in Egypt, Ivanna Vladkova Hollar, said that there are no reforms more urgent than others, and that one cannot focus on one reform without another.
During a press conference on Tuesday, Hollar said that the exchange rate system of the pound must be liberalized and not based on restrictions, while inflation must be targeted.
She said that one of the important reforms is to increase tax revenues, control debt, and improve the public financial situation to be able to spend on priority sectors.
Structural reforms are very important, she said, and the priority now is not to backtrack on structural reforms and to give the private sector a greater role.
Egypt must free the exchange rate of the pound against the dollar from all restrictions, the IMF head added.
Hollar said that the government has not delayed the reforms in a way that would disrupt reviews, but noted that some matters need more time.
The IMF’s approval of the third review confirms that the reform is going well, she assured, and the date of a regular meeting can be postponed to complete some papers.
