The US dollar price started with a surge recording LE 32, and then decreased to LE 29.67 on Wednesday.
The International Monetary Fund expected Egypt's economy will grow by 5.9% in 2025/2026
While the Central Bank leaves prices setting according to the mechanisms of supply and demand, without any intervention to support the value of the local currency.
The first installment of the loan value, which amounts to about $750 million, will be delivered within days.
Egypt hopes to receive 25 percent of the total value of the financial support program that was recently approved by fund experts at an amount of $3 billion.
Prime Minister Mostafa Madbouli on Tuesday chaired a meeting of the Ministerial Economic Committee to follow up on the developments of a bailout program with the IMF to support the national economy.
Georgieva added in a TV interview after her meeting with President Abdel Fattah El-Sisi on Sunday that the payment terms for the loan are that Egypt will obtain a 10-year grace period, provided that it will take another 10 years to repay the principal. and interest.
The meeting was attended by Egypt's prime minister, governor of the central bank, and the ministers of planning, finance, and international cooperation.
Egypt announced reform procedures followed by announcing securing financing packages worth $9 billion.
Addressing a press conference held with the IMF Thursday at the Cabinet's premises, Abdullah said that the CBE began to improve and enhance the efficiency of monetary policy and exchange rate market performance.
The new financing aims to protect macroeconomic stability and debt sustainability, improve Egypt's resilience to external shocks, strengthen its social safety net, and intensify reforms that support private sector-led growth and job creation.
Maait explained that very fruitful bilateral discussions were held with IMF experts on the sidelines of the annual meetings of the IMF and the World Bank in Washington, and significant progress was made in all policies.
The International Monetary Fund (IMF) raised its forecast for the growth of the Egyptian economy to 6.6 percent in the current fiscal year, according to its World Economic Outlook released Tuesday.
Maait added that the government is also exploring financing options that include affordable loans from China and Japan.
Azour explained in a TV interview, that after reaching an agreement with Lebanon in April, there is a set of measures that the government must expedite to take in order for this program to be presented to the Fund's management, and negotiations with Tunisia have begun during the past months and are continuing and progressing.
Maait said that the State achieved a primary surplus for the fifth year in a row, at a value of LE 100 billion, at a rate of 1.3 percent of GDP.
The International Monetary Fund (IFM) welcomes the government's social protection programs and does not force the state to take measures that harm Egyptian citizens, affirmed Prime Minister Moustafa Madbouli on Thursday.
The Egyptian government is in the final stage of talks with the International Monetary Fund on a new funding, Prime Minister Mostafa Madbouli said during the Logos Coptic Youth Forum on Monday.
In its July update of the World Economic Outlook released today, the IMF expected that the Egyptian gross domestic product (GDP) in 2023 would register a growth of 4.8 percent.
Amer will address the opening meeting as well as the presidents of the WB and IMF.