On Fringe of WB & IMF meeting: Egypt continue economic reform

Medhat Hassanein, Minister of Finance and head of Egypt's delegation to the meeting of World Bank and International Monetary Fund held in Prague emphasized that the Egyptian government is still carrying on the economic reform process so as to reduce the deficit in payment balance, to increase exports, to re-arrange the customs and tax systems, to remove exporting obstacles, to remedy the legal sides and to guarantee giving investors their rights in short time.

The Finance Minister pointed out that it is necessary to re-assess the way Egypt follows to benefit from the bag of loans seeking the WB to finance the development programs in a more effective method.

The annual meetings of WB and IMF kicked off yesterday in Prague amid intensive strict security measures and massive demonstrations by those who oppose the globalization and those who call for wiping out debts. The Czech President, inaugurating the meetings, called for more stress on the moral values. He said that poverty was the most prominent feature of the paradox of modern civilization.

IMF Chairman pledged to focus on the development and stability of all countries.