She pointed out Georgieva In a press conference, he pointed out that the Egyptian economy faces challenges due to the wars in Gaza, Lebanon and Sudan, amid a loss of 70 percent of its revenues. Suez Canal.
Earlier this year, Egypt reached an agreement with the IMF to raise the value of the loan program to eight billion dollars from five billion dollars.
“We were very open to modifying the Egyptian program or any other program to best serve the people,” Georgieva said. “But let me say that we will not do what needs to be done for the country and the people of the country if we pretend that the action that needs to be taken can be ignored.” “.
Egyptian President Abdel Fattah El-Sisi said last Sunday that his government may have to review its agreement with the International Monetary Fund if it led to pressure that “public opinion cannot bear” due to the challenges resulting from the current regional situation, after the latest increase in fuel prices. It was approved by Egypt on Friday morning.
Al-Sisi said at a conference in Cairo that Egypt is implementing the current economic reform program under which it obtained a loan worth $8 billion from the International Monetary Fund “in light of very difficult regional and international conditions that have negative effects,” stressing that his country has lost during the last ten months “6 Or $7 billion” is the size of the decline in Suez Canal revenues.
He added that this situation “could continue for a whole year,” adding, “If this challenge will put pressure on public opinion in a way that people cannot bear, then the situation must be reviewed with the International Monetary Fund.”
