9 January 2013

Egypt: Morsi: Our Economy Capable of Recovering, Keen to Combat Corruption

President Mohamed Morsi received on Tuesday 8/1/2013 the director of the International Monetary Fund (IMF) Middle East and Asia Department Massoud Ahmed. The meeting was attended by Prime Minister Hisham Qandil, governor of Central Bank of Egypt (CBE) and ministers of the economic group.

During the meeting, Presidential spokesman Yasser Ali said that President Morsi stressed that the Egyptian administration was working in full swing to confront the current economic challenges and that Egyptian economy was capable of recovering and confronting the backlogs which were inherited from long decades of corruption.

He said Egypt is capable of combating administrative and financial corruption and applying policies targeting the limited income brackets, with the aim of achieving effective special justice for all sons of the Egyptian people.

For his part, Ahmed renewed IMF's support for Egypt to face increasing economic challenges besetting it.

Ali said that an IMF technical team will visit Cairo in the coming weeks to resume discussions on possible IMF financial support.

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