Egypt is making a decent progress on several levels, including privatization and public finance, Al-Arabiya.net reported, citing Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva.

The North African country is facing a number of challenges but its officials are doing a good job, Georgieva.

The IMF is also closely monitoring the economic impact of the war in Gaza as a new obstacle affecting the global economy, but it is too early to give a clear assessment on the matter, she said.

Moreover, she added that the country still has to do some work regarding the issue of the best ways of the exchange rate movement.

On October 4th, it was reported that the IMF would conduct its annual assessment of Egypt’s economy after concluding the country’s delayed review of its loan program.

The IMF approved the 46-month $3 billion loan to Egypt under the Extended Fund Facility (EFF) in December 2022.

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