- The Executive Board of the International Monetary Fund (IMF) has completed the third review under the Fund’s extended arrangement with Egypt, which provides the Egyptian authorities with immediate access to approximately $820 million.
- The Fund explained, in a statement on Monday evening, that macroeconomic indicators in Egypt began to improve since the approval of the first and second reviews of the program last March, noting that inflationary pressures began to gradually decline, the shortage of foreign exchange was eliminated, and financial goals were achieved.
- The Fund added that these improvements have begun to have a positive impact on investor confidence and private sector sentiment, noting at the same time that the difficult regional conditions resulting from the conflict in Gaza and Israel and the tensions in the Red Sea call for continuing to implement the program's commitments.
- The Fund stressed that maintaining a flexible exchange rate system and a free foreign exchange system would be necessary to avoid the accumulation of external imbalances.
