According to a statement from the CBE, the meeting aimed to follow up and discuss the latest developments in Egypt’s economic reform program.
The Central Bank of Egypt (CBE) announced that Governor Hassan Abdalla met with Mr. Nigel Clarke, Deputy Managing Director of the International Monetary Fund (IMF), along with his accompanying delegation, at the bank's headquarters during Clarke’s current visit to Egypt.
According to a statement from the CBE, the meeting aimed to follow up and discuss the latest developments in Egypt’s economic reform program.
It was attended by high-level officials, including Dr. Mohamed Maait, Executive Director and member of the IMF Executive Board representing the Arab group and the Maldives, and former Minister of Finance; CBE Deputy Governors Rami Aboul Naga and Tarek El-Kholy; Assistant Governor Mohamed Aboul Moussa; and senior IMF officials, including Taline Koranchelian, Deputy Director of the Middle East and Central Asia Department; Ivanna Vladkova Hollar, IMF Mission Chief to Egypt; and Alex Segura-Ubiergo, IMF Senior Resident Representative in Cairo.
The discussions reviewed recent improvements in Egypt’s key economic indicators, highlighting the government’s efforts to implement its national reform agenda.
These efforts have helped boost economic growth, improve the investment climate, and increase remittances from Egyptians working abroad. The meeting also addressed joint efforts between the CBE and the Egyptian government to reduce inflation and maintain its downward trajectory.
An IMF technical team arrived in Cairo last week for the fifth review of Egypt’s $8 billion EFF program. The review—expected to conclude by the end of the fiscal year in June—comes as Egypt faces ongoing economic challenges and regional instability.
During the mission, IMF officials are meeting with representatives from the Central Bank, and the Ministries of Finance, Investment, and International Cooperation.
Once the initial assessment is completed, a full IMF delegation is expected to arrive to finalize the review and submit a report to the Fund’s Executive Board.
If Egypt successfully passes the review, it would unlock approximately USD 1.3 billion in additional funding.
Minister of Planning and International Cooperation, Rania Al-Mashat, also met last week with IMF Mission Chief Ivanna Vladkova Hollar to review Egypt’s recent macroeconomic performance, progress on structural reforms, and external financing requirements.
Al-Mashat noted that Egypt’s GDP growth had risen from 2.4% to 4.3% over two consecutive quarters in FY2024/2025—despite ongoing regional pressures—driven by gains in non-oil manufacturing, ICT, tourism, and logistics sectors.
She emphasized that the country is experiencing “not just stronger growth, but higher-quality growth.”
