IMF to Continue Reform Program with Egypt

Camilla Andersen, Assistant Director of the International Monetary Fund (IMF) Communications Department said on Thursday that the organization is willing to support Egypt to continue with the process of economic transformation.

Andersen added that the support will enable the North African country to achieve highly sustainable growth that will create new jobs and opportunities."

However, the fund is not negotiating a new IMF program with Egypt in the current period.

"The priority at this junction is to successfully complete the current program," Andersen said during a press conference, adding that discussions concerning any future arrangements would come after that.

In November 2016, the IMF reached an agreement with Egypt on loan worth $12 billion to help support the country's economic reform program and sustainable development.

Earlier this month, Governor of the Central Bank of Egypt (CBE) Tarek Amer said that the IMF has praised Egypt's economic reform program, describing it as the world's most successful one.