Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

IMF Expected to Increase Loan to Egypt due to External Crises

Tue 05 Dec 2023 | 09:12 PM
Taarek Refaat

Executive Director of the International Monetary Fund (IMF) Kristalina Georgieva,  praised the role of the Central Bank of Egypt (CBE) in managing the monetary policy file during the current exceptional period, expecting that the size of the Fund’s loan to Egypt will be increased due to the additional burden and the impact of the surrounding external events and crises.

The COP28 climate summit held in Dubai witnessed the meeting of the Governor of the Central Bank of Egypt Hassan Abdullah with the IMF executive director.

Sources revealed that the meeting reviewed the progress made by the Egyptian government despite the regional and global challenges, as well as the state’s efforts to maximize the role of the private sector in development, and continue to promote structural reforms related to financial and monetary policies.

Georgieva stressed the flexibility of the Egyptian economy in the face of regional and global crises, and the Fund’s keenness to continue its distinguished cooperation relations with Egypt.