The Executive Director of the International Monetary Fund (IMF), Dr. Mohamed Maait, confirmed that Egypt will receive the fourth tranche of the loan, amounting to $ 1.2 billion, in the next few days, after the approval of the Board of Executive Directors.
Maait explained that the Board of Executive Directors appreciates the economic reforms implemented by Egypt since March 2024, which included reducing the inflation rate, increasing foreign reserves to $ 47.4 billion, in addition to the efforts of the Ministry of Finance to achieve a primary surplus and reduce government debt.
Maait affirmed Egypt's full commitment to lifting fuel subsidies permanently by December 2025, pointing out that the fuel pricing mechanism depends on international prices, which is currently in Egypt's favor with the decline in global oil prices. He also pointed to the elasticity of the exchange rate since March 2024, along with low inflation, which reflected positively on interest rates.
Source (Al-Arabiya.net Website, Edited)
