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Approved in 2022 and expanded to USD 8 billion earlier this year, the program seeks to address Egypt’s economic crisis, marked by soaring inflation and foreign currency shortages.
The International Monetary Fund (IMF) reaffirmed its support for Egypt’s reform efforts as the country navigated economic challenges, despite regional tensions.
Speaking on Thursday in Washington, D.C., IMF Communications Director Julie Kozack emphasized Egypt’s commitment to key reforms aimed at preserving macroeconomic stability.
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The IMF mission recently concluded a visit to Egypt, making significant progress on policy discussions for the fourth review of the country’s 46-month loan program. Approved in 2022 and expanded to USD 8 billion earlier this year, the program seeks to address Egypt’s economic crisis, marked by soaring inflation and foreign currency shortages. If the review is completed, it could unlock USD 1.2 billion in additional financing for Egypt.
