The Egyptian military’s expanding involvement in economic activities— from land acquisition and private company purchases to the rollout of commercial ventures — was flagged by the International Monetary Fund in its fourth review, released Tuesday, of Egypt’s economic policy since the launch of the 2022 loan program. Military involvement in the economy “needs to be corrected,” the IMF’s report stated.
The IMF also criticized the volume of direct central bank lending and Finance Ministry-backed guarantees to state entities, noting particularly that lending to the Egyptian General Petroleum Corporation (EGPC) had become high-risk given the energy deficit.
The international financier has recommended that Egypt reduce state involvement in the economy in successive loan programs since 2016. The publication of the fourth program review comes several months after its completion in March at the government’s request.
To read the full article: click here
Disclaimer: Except for articles published on Blog Tadamon and the content of the resource pages, all materials on this website, including their respective photographs, are indexed from their original sources. All rights remain with the respective copyright holders.
Comments are closed, but trackbacks and pingbacks are open.