Egypt s Minister of Finance Mohamed Maiit looks on as Governor of the Central Bank of Egypt Hassan Abdalla shakes hands with International Monetary Fund Managing Director Kristalina Georgieva. Photo courtesy of the finance ministry.
El-Hommosani added that new details will be announced once a final deal is reached.
On 20 December, Prime Minister Mostafa Madbouly announced that the government was in talks with the IMF for a new timeline for the loan deal.
Egypt has been actively pursuing the completion of the four-year loan programme, which allows the country to access $3 billion in eight instalments, with hopes to increase it to $5 billion.
Key commitments for Egypt under this programme include implementing flexible interest and exchange rate regimes, promoting private sector participation, reducing debt and inflation levels to pre-pandemic figures by the programme's end, and offering stakes in 35 state-owned companies to strategic investors by 2024.
Following the agreement's conclusion in December 2022, Egypt received the initial instalment.
The country was slated to receive two more tranches in March and September of this year, but these were delayed.
Egypt has yet to fulfil the two reviews stipulated in the loan agreement.
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