Kouchouk highlighted Egypt’s ability to navigate complex geopolitical challenges while implementing a comprehensive economic reform program
Egypt’s Finance Minister Ahmed Kouchouk expressed confidence in the country’s economic management during a meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva on the sidelines of the G20 summit in Brazil.
Kouchouk highlighted Egypt’s ability to navigate complex geopolitical challenges while implementing a comprehensive economic reform program.
Egypt is eagerly anticipating the IMF’s approval of the third review of its economic reform program, which is expected on Monday. Minister Kouchouk expressed optimism about the success of future reviews and revealed the country's intention to secure funding from the IMF’s Resilience and Sustainability Trust (RST).
In March 2024, Egypt received the initial tranche of $820 million from the International Monetary Fund (IMF) as part of an expanded $8 billion loan program. The IMF increased its financial support to Egypt by $5 billion, bringing the total package to $8 billion. Egypt agreed to implement specific economic reforms in exchange for the loan, including reducing subsidies and floating the currency.
