IMF allocates $1.8B to Egypt after reviews
The International Monetary Fund announced the completion of its seventh review of the loan program extended to Egypt, allowing the country to obtain new financing of approximately $1.8 billion, bringing the total funding received to around $7.3 billion. The Fund pointed out that the Egyptian economy has demonstrated resilience in the face of the indirect repercussions of the war in the region, thanks to measures such as the liberalization of exchange rates, gradual increase in fuel prices, and reduction of government spending. Despite the positive indicators, the IMF warned of ongoing risks, including rising public debt and the need for further structural reforms, particularly accelerating the program to privatize state-owned companies and strengthening the private sector to reduce reliance on government expenditure, as regional escalation remains a potential threat to growth and inflation.
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