The International Monetary Fund is set to review a loan program for Egypt on Tuesday.
Egyptian Prime Minister Mostafa Madbouly announced Egypt’s progress on the loan during a press conference with IMF Managing Director, Kristalina Georgieva.
The review, which will be the fourth under Egypt’s IMF loan program, is projected to unlock more than $1.2 billion in financing. The loan program was approved in 2022.
Madbouly emphasized the country’s ongoing cooperation with the IMF, stating that Egypt “expects continued successful and fruitful partnership in the coming period.”
Georgieva also praised the IMF’s collaboration with Egypt and acknowledged current global economic challenges. She mentioned that next week’s discussions with Egypt will explore ways to support the country’s efforts to green its economy and facilitate access to the Resilience and Sustainability Facility (RSF) — an IMF initiative designed to help countries address long-term challenges, such as climate change and public health risks, that could impact economic stability.
