The International Monetary Fund’s commitment to supporting Egypt’s economic reforms will remain a priority, despite external pressures, according to managing director Kristalina Georgieva.

Speaking on the sidelines of the AlUla Conference for Emerging Market Economies, the official reaffirmed her organization’s stance, emphasizing that political considerations fall outside its mandate.

This comes on the back of Egypt’s ongoing 46-month IMF loan program, which was initially approved in 2022 and expanded to $8 billion in 2024 amid an economic crisis marked by soaring inflation and acute foreign currency shortages.

In an interview with Asharq, Georgieva acknowledged that Egypt faces economic headwinds, exacerbated by regional instability, including recent geopolitical tensions. The IMF official highlighted the necessity of structural reforms aimed at enhancing competitiveness and strengthening private sector participation.

Source: ARABNEWS