Egypt, IMF to resume talks on loan program reviews within coming weeks

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Egypt is expected to negotiate a possible hike in the loan program with the IMF

Staff Writer, Arab Finance

January 4, 2024

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Negotiations between the International Monetary Fund (IMF) and Egypt will be resumed within the next few weeks, with the preparation for the two delayed reviews of the country’s $3 billion loan program, Director of the Middle East and Central Asia department at the IMF Jihad Azour told Al Arabiya.

Egypt is expected to negotiate a possible hike in the loan program with the IMF as the challenges faced by the country in 2023 may require additional funding, Azour added.

In December, Bloomberg reported that Egypt was close to expanding its $3 billion loan program with the IMF to around $6 billion.

Managing Director of the IMF Kristalina Georgieva said before that the fund was “seriously considering” a possible hike in the loan program for Egypt.

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