CAIRO – 17 February 2025: Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, reaffirmed the fund’s continued support for Egypt’s agenda for economic reforms.
Speaking at the AlUla Emerging Markets Economies Conference in Saudi Arabia, Georgieva commended the Egyptian government’s progress in implementing IMF-backed reforms, stressing that these efforts are reinforcing the country’s financial stability.
Moreover, she underscored that supporting Egypt’s economy remains a priority for the IMF, stressing that the fund’s primary focus is on economic performance, while political matters fall outside its mandate.
Georgieva also announced that the IMF team overseeing Egypt will soon submit its latest review of the country’s economic restructuring and financing program to the IMF Executive Board, which will evaluate the findings and make a decision accordingly.
She emphasized that the review process and coordination with the Egyptian government are progressing as planned.
The IMF Executive Board is set to convene later this month to conduct the fourth review of Egypt’s loan program, worth $1.2 billion, alongside discussions on the Resilience and Sustainability Facility, expected to disburse $1.3 billion in phases.
Additionally, the board will assess the results of Egypt’s Article IV Consultation, which has been completed, and the fourth review of the Extended Fund Facility, which will determine the release of a $1.2 billion tranche.
Mon, Feb. 17, 2025
