Ebeid: Global economic disturbances not affecting Egypt
Egypt-IMF, Economics, 10/26/1998

At the inauguration of a symposium on the influence of financial market fluctuations, Egyptian Minister of Public Works Atef Ebeid stated yesterday that Egypt has not been affected by global financial disturbances, referring to the measures taken by the government to guarantee that the national economy will not be affected by the current economic crisis and to succeed in implementing the economic reform programs.

He called for international cooperation to confront the world economic disturbances and imbalances.

Meanwhile, Egyptian Minister of Economy Youssef Butros Ghali referred to the outcomes of the International Monetary Fund's annual meetings that confirmed the importance of diversifying the trade relations between countries.

Graham Hacche, the chief of the IMF's World Economic Studies Division, reviewed in the symposium the economic turmoil that has affected Southeast Asia, Japan, and Russia in the recent months and its effect on capital markets, interest rates, and prior goods, pointing out the effects of the crisis on the industrialized countries confirming the unexpected reduction in global growth rate.

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