In a post on her X account on Tuesday, on the sidelines of the World Government Summit in Dubai, Georgieva said she looks forward to the IMF Executive Board’s discussion of the fifth and sixth reviews of Egypt’s Extended Fund Facility (EFF) loan programme in the coming weeks, as well as to a larger role for the private sector.
The board is also expected to discuss the first review of the Resilience and Sustainability Facility (RSF) loan programme in the same meeting.
While the IMF has not yet scheduled a board meeting in Egypt, sources familiar with the discussions told Ahram Online that a decision on disbursing the three tranches under the two loan programs is expected in March.
“We are confident that a $2.3 billion financing tranche will be disbursed to Egypt, including $300 million under the Resilience and Sustainability Facility,” Georgieva said.
She noted that the Egyptian government has implemented a difficult reform programme over the past years, while warning that global debt levels are rising rapidly and approaching 100 percent of global GDP.
The rising cost of debt servicing is depriving economies of investment in skills development and the artificial intelligence economy, she added.
Earlier this month, the IMF announced that its board is anticipated to meet in the first quarter of 2026 to consider the $8 billion EFF loan programme, along with the first review under the $1.3 billion RSF loan deal.
The completion of these three reviews was initially planned for December 2025, but delays in implementing reforms, particularly those aimed at reducing the state’s role in the economy, have postponed the process.
While addressing the 10th anniversary of the Arab Fiscal Forum, held on the sidelines of the World Government Summit, Georgieva recalled that at the first forum in Abu Dhabi, 10 years ago, Christine Lagarde emphasized the importance of strong domestic revenue collection and a fair, modern international tax system for economic success in the 21st century. Ministers of finance from the UAE, Algeria, Egypt, Mauritania, Tunisia, Qatar, and Yemen, along with the director general of the Arab Monetary Fund, attended the inaugural forum.
She said that, a decade later, most Arab countries have made significant progress on these issues. Work continues to strengthen fiscal institutions, build macroeconomic resilience in times of shocks and uncertainty, improve public expenditure management, and advance digital transformation.
She also welcomed expanded participation in the forum, which is co-organized with the Arab Monetary Fund, noting the attendance of the ministers of finance of Jordan, Libya, Lebanon, Somalia, and Syria, as well as the central bank governors of Bahrain, Egypt, Libya, Mauritania, Palestine, Tunisia, the UAE, and Yemen.
She stated that the global economy is experiencing major shifts in geopolitics, trade policy, technology, and demographics, creating uncertainty, even as global growth has remained relatively strong.
The world economy is projected to grow 3.3 percent this year and 3.2 percent in 2027, while inflation is expected to fall to 3.8 percent this year and 3.4 percent by 2027, she explained.
In the Arab region, she said, growth is expected to rise to 3.7 percent this year, supported by increased oil production among exporters and lower prices, remittances and tourism among importers, improved financial conditions, and renewed market access in several countries.
However, Georgieva warned that geopolitical tensions, trade protectionism, rising debt levels, fiscal strains, and oil price volatility continue to pose risks, alongside humanitarian challenges in fragile and conflict-affected countries.
She also outlined structural challenges facing the region, including managing oil-price volatility, addressing debt vulnerabilities, and restoring macroeconomic stability in low-income and fragile economies.
Resilient policy frameworks and a dynamic private sector are essential to weather shocks, Georgieva stressed, calling for a gradual refocusing of the government’s role toward creating conditions for growth and fostering private-sector initiative.
She reviewed progress made through the Arab Fiscal Forum in improving fiscal frameworks, domestic revenue mobilization, and expenditure reforms, citing examples from Saudi Arabia, Kuwait, the UAE, Egypt, Jordan, Morocco, Bahrain and Oman.
Looking ahead, she noted that the region needs to build on the momentum of the past decade by improving the efficiency of public spending, rebuilding fiscal buffers, strengthening fiscal credibility, boosting productivity, supporting entrepreneurship, attracting foreign direct investment, deepening trade integration, and supporting countries emerging from conflict.
“As always, the IMF stands ready to support the region, with integrated policy advice, financing, and capacity development,” Georgieva said, highlighting cooperation through the IMF’s regional offices and capacity development hubs.
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