Egyptian authorities haven’t requested a rise within the fourth tranche of the Worldwide Financial Fund (IMF) mortgage to USD 2 billion (EGP 98.4 billion), the Cupboard Media Middle introduced on Tuesday, 12 November, refuting claims circulating in some media retailers.
Based on the assertion, current experiences attributed to senior authorities officers suggesting that Egypt sought a rise from USD 1.3 billion (EGP 64 billion) to USD 2 billion (EGP 98.4 billion) are “utterly baseless.”
The Cupboard clarified that these claims are an try to unfold confusion by rumors and misinformation amongst residents.
Moreover, the Cupboard urged media retailers to confirm data by official sources earlier than publication, highlighting the federal government’s dedication to transparency, particularly on issues associated to Egypt’s IMF-supported financial reform program.
Prime Minister Mostafa Madbouly lately met with IMF Managing Director Kristalina Georgieva on the sidelines of COP29 in Azerbaijan, the place Georgieva recommended Egypt’s progress in financial reforms and the numerous steps taken below this system.
The Cupboard’s assertion follows current experiences from numerous media retailers suggesting that Egypt had requested a rise within the upcoming fourth tranche of its IMF mortgage from USD 1.3 billion (EGP 64 billion) to USD 2 billion (EGP 98.4 billion).
The experiences attributed this request to further financial reforms undertaken by the Egyptian authorities, together with subsidy cuts on important items and providers.
