The IMF is assisting Egypt with fiscal reforms to support vulnerable groups, and it plans to provide loans under a Resilience and Sustainability Facility. In Lebanon, the IMF awaits the formation of a new government for further assistance, while a team will assess Mozambique’s economic reforms in the coming weeks.
The International Monetary Fund (IMF) is collaborating with Egyptian officials to strengthen the nation’s economy amidst challenging economic conditions influenced by the Gaza conflict. IMF spokesperson Julie Kozack stated that there will be a recalibration of the fiscal strategy to enable essential social programs aimed at vulnerable populations, while also ensuring sustainable debt levels.
A proposed loan will be structured under a Resilience and Sustainability Facility (RSF) to support economic reforms, although specific loan amounts are yet to be determined. The focus of the reforms will be on reducing inflation, stabilizing the currency exchange rate, improving foreign exchange access, increasing domestic revenue, fostering a favorable business environment, and enhancing governance and transparency.
In terms of Lebanon, the IMF expressed readiness to assist following the establishment of a new government, which is essential for addressing the nation’s economic difficulties exacerbated by last year’s conflict with Israel. Kozack highlighted the significance of political stability in Lebanon, mentioning new president General Aoun and the recently formed government for reviving economic activity.
Additionally, an IMF team is scheduled to visit Mozambique soon to evaluate the country’s economic reform progress. Kozack emphasized ongoing IMF engagement to support Mozambique’s stability, growth acceleration, and inclusivity in economic development, with more insights expected following their upcoming assessment.
This article highlights the IMF’s initiatives in Egypt, Lebanon, and Mozambique, focusing on economic recovery and reform amid external challenges such as conflict and fiscal constraints. The IMF is adjusting support strategies to accommodate local needs while emphasizing governance, social programs, and stability in these countries. Understanding the geopolitical and economic contexts helps grasp the necessity of IMF assistance in fostering resilience and reform.
In conclusion, the IMF is actively working with Egypt to recalibrate its fiscal policies to support social programs, while preparations are underway to assist Lebanon in its economic recovery post-conflict. Furthermore, Mozambique is set to receive IMF support to reinforce economic reforms and growth. These initiatives underscore the IMF’s role in promoting stability and resilience across nations facing economic pressures.
Original Source: mediacenter.imf.org
