Ahmad 
Ivana Vladkova Hollar, Head of the International Monetary Fund Mission in Egypt, stressed the importance of liberalizing the Egyptian pound exchange rate and removing all restrictions related to it, in addition to the need to effectively target inflation.
This came during a press conference held on Tuesday, where Hollar stressed that the country needs to implement a comprehensive set of reforms without focusing on one area only.
Hollar explained that one of the important reforms is to increase tax revenues and control public debt, in addition to improving the state’s general financial situation to enable it to spend on priority sectors.
Hollar pointed out that structural reforms are of great importance, stressing that the current priority is not to backtrack on these reforms and to give the private sector a greater role in the economy.
Hollar indicated that liberalizing the exchange rate of the pound against the dollar from all restrictions imposed on it is a vital step, stressing that the Egyptian government has not delayed in implementing reforms in a way that disrupts periodic reviews, but there are some issues that need more time to address.
Hollar noted that the Fund’s approval of the third review confirms that the reforms are going in the right direction, and that postponing the date of the meeting to review the reforms is a normal matter to complete some of the required papers and files.
At the end of her statements, Hollar stressed the importance of giving the private sector a greater role in the Egyptian economy as part of the structural reforms that the country seeks to implement.
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