“Egypt has made good progress on several fronts, fiscal policy, the implementation of privatization strategy, the engagement with our team on how best to conduct monetary policy in these very challenging times.” the International Monetary Fund (IMF) Managing Director Kristalina Georgieva said as she praised Egypt’s good progress on economic reforms.
She added, “We are currently in close engagement to define the dates for mission so we can make that progress I am talking about.” she said. “My respect to the Egyptian authorities, the Ministry of Finance, and the Central Bank; they are handling tough challenges and doing well.”
Georgieva told reporters at the lender’s annual meetings in Morocco that the IMF is in “close engagement” with Egypt to set the dates to discuss a much-delayed review of a $3 billion loan program. “Our discussions are very much focused on making sure that Egypt succeeds,”
The IMF has yet to complete two loan program reviews, which were supposedly to take place last March and September, according to the “Amwal Akghad” website.
In December last year, IMF’s executive board approved a 46-month arrangement of around $3 billion under the Extended Fund Facility (EFF) to Egypt.
