The International Monetary Fund (IMF) has stated that Egypt's $8 billion loan program remains 'still appropriate' and emphasized the need to evaluate the effectiveness of the country's social protection initiatives. Egyptian President Abdel Fattah El-Sisi warned that the nation might reconsider its expanded loan program if international institutions fail to acknowledge the regional challenges Egypt is facing. The IMF Director for the Middle East and Central Asia highlighted the importance of collaboration with Egyptian authorities to enhance social protection programs. IMF Managing Director Kristalina Georgieva plans to visit Egypt to assess the country's economic landscape and reinforce the necessity of adhering to reform commitments.
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Original article source: https://www.arabnews.com/node/2576655/business-economy
Source Id: 2024-10-525071057