Prime Minister Mostafa Madbouly led the first meeting of the Coordination Council for Financial and Monetary Policies in its new formation. The Board of Directors of the International Monetary Fund approved the third review of Egypt’s economic reform program, unlocking a $820 million tranche. This demonstrates confidence in Egypt’s reforms and economic targets, paving the way for further progress towards the government’s vision.
In a recent press conference, IMF mission head in Egypt, Ivanna Vladkova Hollar, emphasized the importance of various reforms, including increasing tax revenues, managing debt, and enhancing the public financial situation to prioritize key sectors. Structural reforms are crucial, with an emphasis on not reversing progress and empowering the private sector.