International Monetary Fund
Published: 2006-07-11
Total Pages: 56
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Economic conditions in Egypt are favorable, and the economic reform is moving forward. The discussions focused on the elements of a macroeconomic policy. IMF staff discussed the following with authorities: a multiyear fiscal consolidation plan, the monetary policy stance and strategy appropriate for maintaining inflation in low single digits, the exchange rate policy, and progress in financial sector reform. Executive Directors recommended the reforms that are needed to support central bank operational autonomy and strengthen policy formulation, and they also stressed the need to enhance the flexibility of labor and improve education.