Stability behind Egypt's successful economic reform

Chief of the international Monetary Fund, Horst Kohler said Egypt's political and social : stability under President Hosni Mubarak led to a successful economic program, and Ebeid's government is currently implementing scientifically an ambitious plan to raise the standard of living through luring more foreign investments and providing a proper investment climate.

Kohler met yesterday with the ministers of economic group for talks on boosting bilateral cooperation, reviewing the privatization programme and the recent rules issued by the Central Bank of Egypt to control the money market and increase the local deposits.

Minister of Economy Youssef Boutros Ghali explained the recent developments of recent developments of the Egyptian economy where the deficit of trade balance and rate of inflation went down and the volume of exports went up.