IMF: Egypt’s 7th Review Expected in Summer

The International Monetary Fund (IMF) said it expects to complete the seventh review of Egypt’s economic reform program during the summer, as discussions continue over the impact of regional conflicts and progress on structural reforms.

IMF spokesperson Julie Kozack said on Thursday that talks with Egyptian authorities under the Extended Fund Facility (EFF) have included assessments of the economic fallout from ongoing conflicts in the Middle East, as well as policy measures taken to preserve macroeconomic stability.

Kozack said an IMF mission visited Cairo in May to conduct discussions related to the seventh review of Egypt’s program, along with the second review under the Resilience and Sustainability Facility.

She added that negotiations have made “positive progress,” with both sides continuing consultations remotely to reach a staff-level agreement that would pave the way for formal approval of the review.

The discussions also covered Egypt’s progress in implementing structural reforms, which remain central to the IMF-supported program.

The IMF also noted that an updated version of Egypt’s State Ownership Policy is expected to be released soon, as part of broader efforts to define the government’s role in the economy and expand private-sector participation.

The policy is a key pillar of Egypt’s reform agenda, aiming to improve efficiency in state-owned enterprises and attract greater private investment.

The Fund highlighted that the economic implications of regional geopolitical tensions, including the broader Iran-related conflict, were part of the discussions with Egyptian officials.

These risks are being assessed alongside Egypt’s efforts to maintain foreign currency stability, manage capital flows, and sustain investor confidence amid global uncertainty.

Kozack confirmed that both sides remain engaged in ongoing virtual consultations aimed at finalizing agreement on the review, which would then be submitted for approval by the IMF Executive Board.

The completion of the seventh review would mark another step in Egypt’s multi-year reform program under the IMF, which has focused on fiscal discipline, exchange rate flexibility, and expanding the role of the private sector in economic growth.