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    International Monetary Fund (IMF) Managing Director Christine Lagarde attends the session Where Is the Chinese Economy Heading? of the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland in this January 21, 2016 file photo

    IMF Managing Director Discusses Aid Program With Egyptian Leader

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    Christine Lagarde, has discussed the fund’s aid program for Egypt with Abdel Fattah Sisi.

    Logo of the International Monetary Fund on its office
    © Sputnik/ Natalia Seliverstova
    WASHINGTON (Sputnik) – Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has discussed the fund’s aid program for Egypt with Egyptian President Abdel Fattah Sisi, Lagarde said in a statement.

    "President Sisi and I discussed the progress of Egypt’s economic reform program supported by the IMF’s $12 billion Extended Fund Facility arrangement," the Wednesday statement says, adding that Egypt is currently implementing a "strong economic reform program."

    According to Lagarde, the IMF is now helping Egypt bring inflation under control.

    The IMF approved a 3-year loan program for Egypt last year.

    Last month, German Chancellor Angela Merkel announced that her country would provide $250 million to Egypt via the IMF.

    Related:

    Egyptian PM Expects IMF to Provide Cairo With Loan Till End of 2016
    Egypt Expects to Receive $12 Billion in IMF Aid Over Next 3 Years
    IMF, Egypt Finalizing Agreement on 3-Year Support Program Worth $21Bln
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    International Monetary Fund, Abdel Fattah al-Sisi, Christine Lagarde, Egypt
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