logo
IMF reaffirms support as Egypt advances 5th EFF review, IMF Mission concludes Cairo visit

IMF reaffirms support as Egypt advances 5th EFF review, IMF Mission concludes Cairo visit

Egypt Today25-05-2025

Cairo – May 25, 2025: The International Monetary Fund (IMF) has affirmed its continued backing for Egypt as the country works through the fifth assessment of its $8 billion Extended Fund Facility (EFF) agreement.
Earlier this month, an IMF delegation traveled to Cairo to engage in talks with Egyptian officials concerning the review, which, upon completion, could lead to the release of a $1.2 billion installment.
This marks the second review following the program's expansion in March, when its total value was raised from $3 billion to $8 billion.
'The Fund remains committed to supporting Egypt in building its economic resilience and fostering higher private sector-led growth,' said Julie Kozack, the IMF's Communications Director, during a recent briefing.
She noted that Egypt has made 'clear progress on its macroeconomic reform program, with notable improvements in inflation and foreign exchange reserves.'
Kozack explained that IMF staff have spent the past few weeks in 'productive discussions with the Egyptian authorities on economic performance and policies under the EFF.' While the field portion of the mission has concluded, virtual meetings will continue in order to finalize policy agreements necessary to complete the review.
'The mission finished discussions in the field, and the meetings will continue virtually to finalize agreement on remaining policies and reforms that could support completion of the Fifth Review,' she stated.
Looking ahead, Kozack emphasized the importance of structural reforms to ensure Egypt's economic momentum continues. 'As Egypt's macroeconomic stabilization is taking hold, efforts must now focus on accelerating and deepening reforms that will reduce the footprint of the state in the Egyptian economy, level the playing field, and improve the business environment.'
The fifth review comes at a critical time for Egypt, as it approaches the end of its fiscal year in June while grappling with regional and global economic challenges. Completion of the review is a key step toward securing further IMF support and reinforcing investor confidence.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

WATCH: Egyptian Startups Secure $228M in First Five Months of 2025
WATCH: Egyptian Startups Secure $228M in First Five Months of 2025

CairoScene

time4 hours ago

  • CairoScene

WATCH: Egyptian Startups Secure $228M in First Five Months of 2025

In total, 16 deals were recorded during the period, with 11 of them publicly disclosing investment of $156 million altogether. Jun 11, 2025 Egyptian startups have attracted $228 million in venture capital and debt financing from January to May 2025, according to a statement from the Ministerial Group for Entrepreneurship. The figures mark a 130% year-on-year increase in disclosed investment volume, reflecting continued growth in Egypt's startup ecosystem despite ongoing economic challenges. In total, 16 deals were recorded during the period, with 11 of them publicly disclosing investment amounts that collectively reached $156 million. In addition to equity investments, two notable debt financing deals were secured: proptech platform Nawy raised $23 million, while fintech firm MNT-Halan secured $49 million.

Egypt's FM Heads to Norway to Attend Oslo Forum
Egypt's FM Heads to Norway to Attend Oslo Forum

See - Sada Elbalad

time11 hours ago

  • See - Sada Elbalad

Egypt's FM Heads to Norway to Attend Oslo Forum

H-Tayea The Egyptian Minister of Foreign Affairs and Immigration, Badr Abdelatty, departed on Tuesday for Norway to participate in the Oslo Forum, scheduled to take place on June 11. During his visit, the Minister is set to hold a series of bilateral meetings on the sidelines of the forum to explore ways to strengthen Egypt–Norway relations and exchange views with senior international officials on key regional and global developments. The Oslo Forum provides a platform for high-level dialogue and informal diplomacy among global leaders, mediators, and foreign policy officials. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean

Egypt's PM congratulates Kamil Idris on his appointment as Sudan's New PM
Egypt's PM congratulates Kamil Idris on his appointment as Sudan's New PM

See - Sada Elbalad

time12 hours ago

  • See - Sada Elbalad

Egypt's PM congratulates Kamil Idris on his appointment as Sudan's New PM

H-Tayea Egyptian Prime Minister Mostafa Madbouly held a phone call this evening with Kamil Idris to extend his congratulations on assuming office as the new Prime Minister of the Republic of Sudan. During the call, Madbouly expressed his sincere wishes for Prime Minister Idris's success in leading the Sudanese government during this critical juncture. He reaffirmed Egypt's steadfast support for Sudan's stability, security, and unity, stressing the importance of close cooperation and continuous coordination between the two neighboring countries. Prime Minister Madbouly also highlighted the deep-rooted historical and cultural ties between Egypt and Sudan, noting Egypt's commitment to strengthening bilateral relations and expanding collaboration in all fields of mutual interest. For his part, the Sudanese Prime Minister thanked Madbouly for the kind gesture and warm wishes. He emphasized Sudan's desire to deepen its partnership with Egypt and enhance joint efforts that serve the shared aspirations of both nations. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store