President Abdel Fattah El Sisi renewed his commitment in September 2018 that Egypt would push ahead with reforms after a meeting with International Monetary Fund managing director Christine Lagarde. “We agreed on the importance of capitalising on Egypt’s macroeconomic gains to advance the authorities’ home-grown structural reforms.,” Lagarde said after a meeting in New York. She discussed the good progress under Egypt’s economic reform programme supported by the IMF’s $12bn Extended Fund Facility. Egypt’s economy is showing strong signs of recovery, and its econom- ic growth is among the highest in the Middle East. Business conditions in the Egyptian non-oil private sector improved for two months in a row in July and August 2018, the first time since Septem- ber 2015 that two consecutive months have returned positive readings. It suggested that the Egyp- tian non-oil private sector the sector was poised for growth in the new fiscal year that began in July. The performance in the Emirates NDB index was the best for eight months. The snapshot survey of private sector business managers recorded a figure of 50.5 up from 50.3 in July on an index where any number above 50 indicates growth. In August Moody’s raised its outlook on Egypt’s rating to positive and affirmed its B3 rating.