IMF Chief Kristalina Georgieva urges Egypt to accelerate loan program reforms

IMF Managing Director Kristalina Georgieva urged Egypt to press ahead with reforms during the IMF-World Bank Annual Meetings in Washington, warning that delays would raise repayment costs for citizens. Egypt is considering revising targets set by its bailout program, initially approved for $3 billion in 2022 and raised to $8 billion in March. Conditions included a free-floating currency, cutting food subsidies, tightening monetary policy, and boosting private sector competition. Georgieva emphasized that early action benefits Egypt's economy.