IMF Chief to Visit Egypt Next Week

The Prime Minister Mostafa Madbouly explained that Egypt needs to talk about reconsidering a review with the International Monetary Fund (IMF) on its program with Egypt; so that it can accommodate the successive developments that have followed in the region.

The Prime Minister renewed the reference that the ministers of the Economic Community and the Governor of the Central Bank traveled to Washington to attend the annual meetings of the Fund, pointing out that there were constructive talks with the Fund's team on the sidelines of those meetings, pointing to a very important point related to these discussions, which is that the review and negotiation with Fund officials does not include any new amounts or additional loans, but only includes reviewing the commitments, targets and the timings of their achievement according to the surrounding circumstances and developments in the region.

“The move aims to put no further burdens on the Egyptian citizen, in a way that prolonging some procedures can mitigate the current circumstances,” the PM pointed out.

In the same context, Madbouly announced that next week will witness a visit by the Executive Director of the International Monetary Fund, and her visit is immediately followed by the arrival of the review team of the Egypt program, in preparation for the start of the fourth review on the program.