{"id":546412,"date":"2022-05-16T04:00:48","date_gmt":"2022-05-16T04:00:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/an-agreement-with-the-imf-is-coming-within-months\/"},"modified":"2022-05-16T04:00:48","modified_gmt":"2022-05-16T04:00:48","slug":"an-agreement-with-the-imf-is-coming-within-months","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/an-agreement-with-the-imf-is-coming-within-months\/","title":{"rendered":"An agreement with the IMF is coming \u201cwithin months\u201d"},"content":{"rendered":"

<\/a> A fresh IMF program could be sealed in a few months: <\/strong>The government expects to reach an agreement with the IMF on a fresh support package \u201cwithin months\u201d, Prime Minister Moustafa Madbouly said yesterday at a presser (watch, runtime:<\/a>2:07:15<\/a>).<\/p>\n

What IMF program? <\/strong>The government has been in talks with the IMF since March<\/a> for a new assistance program to help it mitigate the impact on our economy of Russia\u2019s war in Ukraine.<\/p>\n

Madbouly was tight-lipped on the talks: <\/strong>The PM offered no details on the shape of the program, saying only that \u201cthere are talks through the CBE and the Finance Ministry with the Fund \u2026 We are moving in great steps \u2026 I don\u2019t want to get ahead of events, but the program will be in operation within the next few months,\u201d he said.<\/p>\n

What we know so far:<\/strong> Cabinet spokesperson Nader Saad said in March that Egypt is negotiating a \u201cprogram of support and technical advice\u201d that \u201cmay include additional financing<\/a>\u201d as it tries to cushion the impact of the war in Ukraine on the economy. Talks had reached the \u201ctechnical stage\u201d in late April, Jihad Azour, the multilateral lender\u2019s head of Middle East and Central Asia, said at the time<\/a>.<\/p>\n

Any new loan from the IMF would be our third in six years<\/strong>: The USD 12 bn facility in 2016 tied to economic reforms after the Sisi administration floated the EGP was followed in 2020 by a USD 5.2 bn<\/a> standby loan and a USD 2.8 bn<\/a> rapid financing instrument due to the pandemic.<\/p>\n

We\u2019re eligible for each of the three programs<\/strong>, a source familiar with discussions told Reuters<\/a> in March. Egypt has exceeded its IMF borrowing quota, so any financial assistance will be lent under exceptional access criteria, meaning that the government will face greater scrutiny from the Fund, they said.<\/p>\n","protected":false},"excerpt":{"rendered":"

A fresh IMF program could be sealed in a few months: The government expects to reach an agreement with the IMF on a fresh support package \u201cwithin months\u201d, Prime Minister Moustafa Madbouly said yesterday at a presser (watch, runtime:2:07:15). What IMF program? The government has been in talks with the IMF since March for a […]<\/p>\n","protected":false},"author":1,"featured_media":546413,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[104,72,272,281],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-imf","tag-moustafa-madbouly","wpautop","entry"],"acf":{"mongo_id":"a4e3bad5-0ccb-44bf-8327-c3a52ba2bcf3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/185.jpg","photo_position":"above","related_issue":[546406],"teaser":"","voice_url":""},"yoast_head":"\nAn agreement with the IMF is coming \u201cwithin months\u201d - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/an-agreement-with-the-imf-is-coming-within-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An agreement with the IMF is coming \u201cwithin months\u201d\" \/>\n<meta property=\"og:description\" content=\"A fresh IMF program could be sealed in a few months: The government expects to reach an agreement with the IMF on a fresh support package \u201cwithin months\u201d, Prime Minister Moustafa Madbouly said yesterday at a presser (watch, runtime:2:07:15). What IMF program? The government has been in talks with the IMF since March for a […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/an-agreement-with-the-imf-is-coming-within-months\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-16T04:00:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/185.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/an-agreement-with-the-imf-is-coming-within-months\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/an-agreement-with-the-imf-is-coming-within-months\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"An agreement with the IMF is coming \u201cwithin months\u201d\",\"datePublished\":\"2022-05-16T04:00:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/an-agreement-with-the-imf-is-coming-within-months\/\"},\"wordCount\":311,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/an-agreement-with-the-imf-is-coming-within-months\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/185.jpg?fit=%2C&ssl=1\",\"keywords\":[\"economy\",\"EnterpriseAM\",\"IMF\",\"Moustafa Madbouly\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/an-agreement-with-the-imf-is-coming-within-months\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/an-agreement-with-the-imf-is-coming-within-months\/\",\"name\":\"An agreement with the IMF is coming \u201cwithin months\u201d - 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Madbouly\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/332.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548806,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/23\/imf-talks-in-final-stages-says-madbouly\/","url_meta":{"origin":546412,"position":1},"title":"IMF talks in \u201cfinal stages,\u201d says Madbouly","author":"enterpriseam admin","date":"23 August 2022","format":false,"excerpt":"Egypt and the IMF are in the \u201cfinal stages\u201d of talks for a fresh facility to help shore up the economy, Prime Minister Moustafa Madbouly said in a cabinet statement yesterday. The statement didn\u2019t provide any details about the talks. Madbouly\u2019s statement comes amid growing pressure on the EGP and\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/354.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548129,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/27\/the-imf-just-sent-us-a-message\/","url_meta":{"origin":546412,"position":2},"title":"The IMF just sent us a message","author":"enterpriseam admin","date":"27 July 2022","format":false,"excerpt":"IMF wants Egypt to move faster, more decisively on reforms: The IMF yesterday called on the Egyptian government to take \u201cdecisive\u201d steps on fiscal and structural reforms, a message that comes as we are locked in talks on a new assistance package from the fund to help us through the\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/279.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547846,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/17\/imf-talks-were-productive-but-theres-no-new-help-just-yet\/","url_meta":{"origin":546412,"position":3},"title":"IMF talks were \u201cproductive,\u201d but there\u2019s no new help just yet","author":"enterpriseam admin","date":"17 July 2022","format":false,"excerpt":"\u201cProductive discussions\u201d with the IMF \u2014 but no agreement yet: The IMF and Egyptian officials held \u201cproductive discussions\u201d on a fresh assistance programme during recent meetings in Cairo, the Fund and a government spokesperson said in separate statements this past Friday. The staff-level talks, which took place between 26 June\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/163.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544866,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/24\/here-we-go-egypt-imf-confirm-talks-over-new-program\/","url_meta":{"origin":546412,"position":4},"title":"Here we go: Egypt, IMF confirm talks over new program","author":"enterpriseam admin","date":"24 March 2022","format":false,"excerpt":"It\u2019s official: The government has requested support from the IMF to mitigate the impact of the war in Ukraine on its economy. Statements from the IMF and cabinet yesterday confirmed that the two sides are in talks on a new program, though it remains unclear what kind of assistance the\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/336.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546606,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/maait-warns-of-global-food-crisis-says-talks-with-imf-going-very-well-ft-interview\/","url_meta":{"origin":546412,"position":5},"title":"Maait warns of global food crisis, says talks with IMF going \u201cvery well\u201d \u2013FT interview","author":"enterpriseam admin","date":"23 May 2022","format":false,"excerpt":"Surging food prices on the back of the crisis in Ukraine could put \u201cmns\u201d at risk around the world, Finance Minister Mohamed Maait told the Financial Times in an interview in London. 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