Egypt’s El-Sisi Sets Stage for Tough Reforms as IMF Loan Awaits
- Government to end dollar exchange rate problem ‘within months’
- Nation can no longer wait to implement reforms, president says
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Egypt is moving to end its dollar exchange rate problem within months, President Abdel-Fattah El-Sisi said, warning that the Arab world’s most populous nation could no longer put off tough measures if it hopes to revive its economy.
In an interview with three state-run newspapers published Tuesday, the Egyptian leader said officials had waited too long to act, and that piecemeal measures taken over the years were no longer tenable. His comments offered some of the strongest indications yet that Egypt was moving to free its exchange rate or devalue its pound.