IMF plans new loan agreement for Egypt alongside 4th programme review

The International Monetary Fund (IMF) is preparing a new loan agreement for Egypt, which will be presented to its executive board for approval alongside the fourth review of Egypt’s programme, said IMF senior official in a press briefing.

“A policy package of reforms will be considered by the Fund’s executive board, along with the fourth review of Egypt’s programme,” Julie Kozack, Director of the Communications Department, told reporters in Washington on Thursday.

Kozack explained that the planned loan agreement would take the form of a Resilience and Sustainability Facility (RSF), which provides affordable, long-term financing to countries implementing reforms aimed at reducing risks to economic stability, including those related to climate change and pandemic preparedness. However, she noted that the exact size of the loan has yet to be determined.

Attribution: Amwal Al Ghad English