IMF: Egypt Succeeded in Implementing Economic Reform Program

International Monetary Fund (IMF) Managing Director  Kristalina Georgieva  said that the Egyptian government has achieved great success in implementing the economic reform program.

Georgieva praised the Fund's experience with the Egyptian government.

In a press statement during her speech at the Spring Meetings of the IMF and in response to a question regarding the provision of a new loan to Egypt, she stressed that the Egyptian government takes it seriously to continue implementing tangible economic reforms as well as achieving financial stability locally.

She added that the global economy and the crises it is facing related to the strong rise in oil prices and the food crisis resulting from the Russian-Ukrainian war have strong effects on all economies of the world, including the Egyptian economy, which prompted the government to rely on cash reserves to support the country's financial stability.