Egypt’s 4th review with IMF to begin Tuesday

Egypt’s fourth review with the International Monetary Fund (IMF) is set to begin on Tuesday, according to Prime Minister Mostafa Madbouly. This review marks a key milestone in Egypt’s ongoing collaboration with the IMF, aimed at reinforcing economic stability and development.
The IMF projects Egypt’s economy to grow by 4.2 pre cent in 2025, up from 2.4 pre cent last year. Inflation, which had peaked at 37 per cent, is expected to decrease to 25-26 per cent, with a further drop to 16 per cent by the end of the fiscal year—a development that will greatly benefit Egypt’s lower-income and middle-class populations.
Kristalina Georgieva, Managing Director of the IMF, expressed deep appreciation for the Egyptian government and people during a joint press conference with the Egyptian Prime Minister, following her meeting with President Abdel Fattah El Sisi. She acknowledged the resilience shown by Egypt during challenging times in the region. Speaking from Cairo, Georgieva emphasized the IMF’s commitment to supporting Egypt on its path toward economic stability and growth.
“We value the strength shown by the Egyptian government and people during this difficult period,” Georgieva said. “The IMF appreciates this partnership, and we are fully committed to supporting Egypt’s stability and economic development.”
In April, the IMF expanded its financial support for Egypt, increasing its programme from $3 billion to $8 billion, a decision prompted by heightened regional challenges that were beyond Egypt’s control. Georgieva highlighted the IMF’s recognition of Egypt’s strong commitment and the impactful measures it has already implemented to bolster economic resilience.
Georgieva praised the country’s shift to a flexible exchange rate system, which has helped clear economic backlogs. She also acknowledged Hassan Abdalla, Governor of the Central Bank of Egypt, for his role in this process.
Moreover, Egypt has taken significant steps to strengthen private sector involvement, particularly in creating jobs for young people. The government has also bolstered social protection by gradually phasing out subsidies, ensuring that only those in genuine need receive assistance. These initiatives have contributed to overall stability and are expected to boost Egypt’s economic outlook in the long term.
Georgieva commended the Egyptian government and people for their efforts, expressing confidence in Egypt’s economic future: “I am fully confident that you will shape the Egyptian economy into a more dynamic and prosperous model.

Attribution: Amwal Al Ghad English