IMF chief to visit Egypt next week – PM

The International Monetary Fund (IMF) is set to intensify its engagement with Egypt next week. The Fund’s Managing Director Kristalina Georgieva is scheduled to visit Cairo, followed immediately by the arrival of a review team to assess the progress of Egypt’s economic programme, Prime Minister Moustafa Madbouly told a press conference on Wednesday.

He noted that the high-level visit aims to assess the country’s economic progress and adjust the programme to address recent challenges.

Last week, President Abdel Fattah al-Sisi called for a reevaluation of the programme to accommodate the evolving economic landscape.

No New Loans

The upcoming review will focus on extending timelines for certain targets rather than seeking additional loans, Prime Minister Madbouly asserted. He emphasised that this approach is designed to alleviate the burden on citizens without imposing new financial strains.

Attribution: The Egyptian Cabinet