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Directives notably include the preparation of a national economic program to succeed the country's IMF-backed reform program and the completion of preparations for long-awaited local council elections.
Subject to approval by the IMF Executive Board, the completion of the reviews would unlock around $1.6 billion in financing, including $1.5 billion under the EFF and $136 million through the RSF.
Dr. Rania Al-Mashat appointed UN Under-Secretary-General and ESCWA chief, boosting Egypt’s global role.
Azour said Egypt’s policy response has been “notable” in addressing spillovers from the conflict.
It also lowered projections for the next fiscal year to 4.8 percent, compared with a previous forecast of 5.4 percent.
He also appointed Minister of Finance Ahmed Kouchouk as a deputy governor to the IMF, Foreign Minister Badr Abdelatty as Egypt's governor to the World Bank (WB), and the Minister of Planning Ahmed Tawfiq Rostom as deputy governor to the WB.
Under the decree, Central Bank Governor Hassan Abdalla will serve as Egypt’s governor at the International Monetary Fund, with the Minister of Finance, Ahmed Kouchouk, appointed as alternate.
President Abdel Fattah al-Sisi and his government discussed on Wednesday drafting a national economic development program for the post International Monetary Fund (IMF) agreement.
The approval enables Egypt to access nearly $2 billion under the Extended Fund Facility and $273 million through the Resilience and Sustainability Facility.
At the same event, Georgieva praised similar reform experiences in Jordan and Morocco, while also highlighting the application of value-added tax across Gulf Cooperation Council countries and the adoption of a minimum corporate income tax.
Egypt heads to Davos to pitch stability and investment, highlighting its role in regional diplomacy, trade routes and energy.
Prime Minister Mostafa Madbouly met Saturday with UN Secretary-General António Guterres and IMF Managing Director Kristalina Georgieva at the 2025 G20 Summit in South Africa.
Inflation is forecast to moderate significantly, declining from 33.3 percent in 2024 to 20.4 percent in 2025 and 11.8 percent in 2026.
Speaking during a press briefing on Thursday, IMF Communications Director Julie Kozack credited the Egyptian authorities for implementing critical reforms
The downgrade reflects delays in implementing structural reforms linked to Egypt’s $8 billion financial support program.
Egypt's economic growth rate during the third quarter of fiscal year 2024/2025 reached 4.77%, compared to 2.2% last year, Prime Minister Mostafa Madbouly said Wednesday.
The update was shared by Julie Kozack, Director of Communications at the IMF, during a press briefing held on Thursday.
The Arab banking sector must maintain and strengthen its resilience in the face of ongoing geopolitical turbulence, International Monetary Fund Executive Director and Arab Group and Maldives Representative Mohamed Maait said.
Egypt is developing a medium-term debt management strategy aimed at increasing transparency and gradually lowering the high costs of debt servicing within the budget.
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.
