IMF to Undertake Fourth Review of Egypt’s Economic Reforms

(3 Minutes Read)

 By completing this review, the IMF will disburse a USD1.3 billion tranche, which represents the largest of the various tranches. Georgieva projected that Egypt’s economy would grow by 4.2% during FY 2024-25, driven by government-led reforms.

The International Monetary Fund (IMF) will begin the fourth review of Egypt’s economic reform program next Tuesday, according to Prime Minister, Mostafa Madbouly, during a press conference held today in Cairo with the Managing Director of the IMF, Kristalina Georgieva.

By completing this review, the IMF will disburse a USD 1.3 billion tranche, which is the largest of the various tranches. Georgieva projected that Egypt’s economy would grow by 4.2% during FY 2024-25, driven by government-led reforms.

 These efforts include bolstering the private sector’s role in job creation and strengthening social protection programs, which are expected to support steady economic growth.

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She expected Egypt to reduce inflation rates to 17% over the coming period. She underscored the IMF’s appreciation for Egypt’s efforts over the past phase, acknowledging the government’s commitment to implementing robust measures aimed at bolstering economic stability.