## Egypt: End-of-Mission Statement on First and Second EFF-Review

_IMF News, February 1, 2024_

## Source details

**Canonical URL:** [Egypt: End-of-Mission Statement on First and Second EFF-Review](https://www.imf.org/en/news/articles/2024/02/01/pr-2434-egypt-statement)

## Other formats

- [Markdown version](/en/news/articles/2024/02/01/pr-2434-egypt-statement/index.md)
- [Structured JSON version](/en/news/articles/2024/02/01/pr-2434-egypt-statement/index.json)
- [Bundle manifest](/en/news/articles/2024/02/01/pr-2434-egypt-statement/bundle-manifest.json)

## Bibliographic details
- Published: February 1, 2024

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### Main findings and agreements
- The IMF mission "made excellent progress on the discussions of a comprehensive policy package needed to reach a Staff Level Agreement (SLA) for the combined first and second reviews of Egypt’s economic reform program supported by the IMF."
- "The IMF team and the Egyptian authorities have agreed on the main policy elements of the program."
- The authorities "expressed a strong commitment to act promptly on all critical aspects of Egypt’s economic reform program."
- The IMF team and the authorities "also agreed on the critical importance of strengthening social spending to protect vulnerable groups."

### Social protection and distributional focus
- Strengthening social spending to protect vulnerable groups is identified as critical.
- Objective: ensure adequate living conditions for low and middle-income households "that have been hit particularly hard by rising prices."

### Financing and next steps
- The mission and the authorities will continue discussions virtually "over the coming days" to:
  - finalize the Memorandum of Economic and Financial Policies (MEFP), and
  - identify the magnitude of additional support from the IMF and other bilateral and multilateral development partners needed to help close Egypt’s increased financing gaps in the context of recent shocks.

### Tone and acknowledgments
- The mission expressed gratitude: "The mission would like to thank the authorities for their warm hospitality and constructive dialogue".

*International Monetary Fund*

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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/2024/02/01/pr-2434-egypt-statement_