{
  "title": "Statement by the IMF Spokesperson on Egypt",
  "publication": "IMF News, October 15, 2022",
  "sourceUrl": "https://www.imf.org/en/news/articles/2022/10/15/pr22354-statement-by-the-imf-spokesperson-on-egypt",
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  "summary": "Statement by the IMF Spokesperson on Egypt",
  "publishDate": "2022-10-15",
  "sections": [
    {
      "heading": "Context and status",
      "content": "- Press Release No. 22/354\n- Date: October 15, 2022\n- Issued by: IMF Communications Department; Director of Communications Mr. Gerry Rice\n- IMF staff and the Egyptian authorities \"have held very productive in-person discussions on the margins of the IMF and World Bank Annual Meetings and made substantial progress on all policies.\"\n- \"IMF staff and the Egyptian authorities have agreed to finalize their work to reach a Staff-Level Agreement very soon.\""
    },
    {
      "heading": "Fiscal policy and public debt",
      "content": "- \"A continued fiscal consolidation path that will safeguard public debt sustainability and ensure a steady decline of the debt-to-GDP ratio over the medium term.\"\n- Additional fiscal and related structural policies to:\n  - \"further expand the social safety net for the most vulnerable\"\n  - \"improve the budget composition\"\n  - \"enhance fiscal transparency\""
    },
    {
      "heading": "Monetary, exchange rate, and external resilience",
      "content": "- Policies to:\n  - \"anchor inflation expectations\"\n  - \"improve monetary policy transmission\"\n  - \"improve the functioning of the foreign exchange market\"\n  - \"bolster Egypt’s external resilience\"\n- Objective: \"enable Egypt to gradually and sustainably rebuild foreign reserves.\""
    },
    {
      "heading": "Structural reforms and competitiveness",
      "content": "- Implementation of the authorities’ comprehensive structural reform agenda to:\n  - \"gradually enhance the competitiveness of the economy\"\n  - \"reduce the role of the state in the economy\"\n  - \"level the playing field for the private sector\"\n  - \"improve the business climate\"\n  - \"foster transition towards a greener economy\"\n\nStatement by the IMF Spokesperson on Egypt, October 15, 2022.\n\n---\n\n\n References\n\n- https://www.imf.org/sitecore/service/notfound.aspx?item=master%3A%7B8D1E6EAB-2E82-47BE-B9FE-258FFB4CBC4A%7D%40en\n- Arab Republic of Egypt and the IMF\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2022/10/15/pr22354-statement-by-the-imf-spokesperson-on-egypt"
    }
  ],
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    "Published: October 15, 2022",
    "Press Release No. 22/354",
    "Date: October 15, 2022",
    "Issued by: IMF Communications Department; Director of Communications Mr. Gerry Rice",
    "IMF staff and the Egyptian authorities \"have held very productive in-person discussions on the margins of the IMF and World Bank Annual Meetings and made substantial progress on all policies.\"",
    "\"IMF staff and the Egyptian authorities have agreed to finalize their work to reach a Staff-Level Agreement very soon.\"",
    "\"A continued fiscal consolidation path that will safeguard public debt sustainability and ensure a steady decline of the debt-to-GDP ratio over the medium term.\"",
    "Additional fiscal and related structural policies to:",
    "Policies to:",
    "Objective: \"enable Egypt to gradually and sustainably rebuild foreign reserves.\"",
    "Implementation of the authorities’ comprehensive structural reform agenda to:",
    "[https://www.imf.org/sitecore/service/notfound.aspx?item=master%3A%7B8D1E6EAB-2E82-47BE-B9FE-258FFB4CBC4A%7D%40en](https://www.imf.org/sitecore/service/notfound.aspx?item=master%3A%7B8D1E6EAB-2E82-47BE-B9FE-258FFB4CBC4A%7D%40en)",
    "[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)"
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