This came during the fund’s virtual press briefing to announce its Global Policy Agenda on the sidelines of the IMF’s and World Bank’s fall Annual Meetings in Washington.

"There has been some delay in the past of actions and that makes the cost higher and that cost ultimately falls on the shoulder of people," stated Georgieva.

"We have been very open to adjusting the Egyptian program or any other program to what will best serve the people, but let me say that we are not going to do our job for the country and the people of the country if we pretend that the action that needs to be taken can be forgone because the only things that happens is the prices of these actions go up," said Georgieva.

Georgieva added that she will visit Egypt in 10 days.

On Monday, President Abdel-Fattah El-Sisi directed the government to reassess the situation with the IMF to avert putting more pressure on the public amid the country’s efforts to overcome economic challenges.

"It is important for Egypt's government to review the programme we agreed on with the IMF if the current deal means putting pressure on the public that people cannot bear," the president said.

On Wednesday, Prime Minister Mostafa Madbouly announced that Egypt plans to start reevaluating the timeline of economic reforms with the IMF.

On Thursday, Georgieva noted that Egypt is heavily affected by the ongoing regional conflict, adding that the country has lost 70 percent of its Suez Canal revenues due to the escalations in the region.

The fourth review of the 46-months, $8 billion EFF programme, signed in December 2022 and expanded in March 2024, is expected to take place in November.

The conclusion of the review allows Egypt to access to $1.3 billion tranche of the fund's loan.

In its World Economic Outlook report published on Tuesday, the IMF lowered its projections for Egypt’s GDP to 2.7 percent for FY2023/2024 and 4.1 percent for FY2025/2026.

The IMF's Executive Board is scheduled to discuss the fourth review of Egypt’s $8 billion loan programme in November.