## International Monetary Fund Statement on Egypt

_IMF News, March 23, 2022_

## Source details

**Canonical URL:** [International Monetary Fund Statement on Egypt](https://www.imf.org/en/news/articles/2022/03/23/pr2285-egypt-international-monetary-fund-statement-on-egypt)

## Other formats

- [Markdown version](/en/news/articles/2022/03/23/pr2285-egypt-international-monetary-fund-statement-on-egypt/index.md)
- [Structured JSON version](/en/news/articles/2022/03/23/pr2285-egypt-international-monetary-fund-statement-on-egypt/index.json)
- [Bundle manifest](/en/news/articles/2022/03/23/pr2285-egypt-international-monetary-fund-statement-on-egypt/bundle-manifest.json)

## Bibliographic details
- Published: March 23, 2022

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### Key facts and context
- Press Release No. 22/85
- March 23, 2022
- Washington, DC
- Issued by: Ms. Celine Allard, mission chief for Egypt
- Contact / Media Relations: PRESS OFFICER: Randa Elnagar; Phone: +1 202 623-7100; Email: MEDIA@IMF.org; @IMFSpokesperson

### Main findings and observations (as stated)
- “The rapidly changing global environment and spillovers related to the war in Ukraine are posing important challenges for countries around the world, including Egypt.”
- “In that context, the Egyptian authorities have requested the International Monetary Fund’s (IMF) support to implement their comprehensive economic program.”
- “A set of macroeconomic and structural policy measures would mitigate the impact of this shock on the Egyptian economy, protect the vulnerable, and preserve Egypt’s resilience and medium-term growth prospects.”
- The authorities’ recent actions to expand targeted social protection and implement exchange rate flexibility are described as “welcome steps.”

### Policy recommendations and conditional emphasis (as stated)
- “Continued exchange rate flexibility will be essential to absorb external shocks and safeguard financial buffers during this uncertain time.”
- “Prudent fiscal and monetary policies will also be needed to preserve macroeconomic stability.”

### IMF engagement and next steps (as stated)
- “Staff is working closely with the authorities to prepare for program discussions with a view to supporting our shared goals of economic stability and sustainable, job-rich, and inclusive medium-term growth for Egypt.”

*International Monetary Fund statement, March 23, 2022.*

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## References

- [Arab Republic of Egypt and the IMF](http://www.imf.org/external/country/EGY/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2022/03/23/pr2285-egypt-international-monetary-fund-statement-on-egypt_