The International Monetary Fund (IMF) and the Egyptian government remain in discussions over the fourth review of Egypt’s Extended Fund Facility (EFF) loan program, IMF Communications Director Julie Kozack said Thursday. Both sides are working to finalize agreements and reforms necessary to complete the review. The announcement came after the IMF concluded two weeks of in-person discussions in Cairo, led by Ivanna Vladkova Hollar, with Egyptian authorities. The talks focused on Egypt’s USD 8 billion (EGP 397.36 billion) EFF program, which has been in place since 2016. “Kristalina Georgieva, the managing director of the IMF, had a very constructive visit to Egypt that underscored the fund’s support for Egypt’s resilience and efforts to maintain its economic stability,” Kozack said during a press briefing. The visit occurred amid heightened regional tensions that have impacted Egypt’s economic growth opportunities, she added. Earlier this year, the IMF increased its financial support for Egypt under the EFF, raising the loan amount from USD 3 billion (EGP 149.01 billion) to USD 8 billion (EGP 397.36 billion). The fund also restructured its policy strategy, a move Kozack said would save Egypt USD 800 million (EGP 39.74…
