WASHINGTON – Spokeswoman for the International Monetary Fund (IMF) Julie Kozack welcomed on Sunday the Egyptian government’s announcement of signing 1.9-billion dollar deals to sell equity stakes in state-owned entities.
“Divestment, as I noted, is a critical component of the EFF-supported program, supporting the gradual withdrawal of the state from economic activity and providing resources for external financing and debt reduction,” she said at a press conference.
The announcement constitutes important progress in implementing a key element of the comprehensive policy package aimed at restoring macroeconomic stability, she added.
On December 16, 2022, the IMF executive council approved financial facilities worth 3 billion dollars to Egypt with the aim of boosting its reform program.
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