Nairobi: President Abdel Fattah El-Sisi expressed Egypt’s deep appreciation for the fruitful cooperation with the International Monetary Fund in implementing the country’s economic reform program, including its broad structural reforms and objectives aimed at achieving comprehensive and sustainabldevelopment. The remarks came during a meeting held on Tuesday, May 12, 2026, between President El-Sisi and IMF Managing Director Kristalina Georgieva on the sidelines of the Africa-France Summit currently taking place in the Kenyan capital Nairobi.
According to State Information Service Egypt, Presidential Spokesman Mohamed El Shenawy said the president welcomed the successful completion of the fifth and sixth reviews of Egypt’s reform program and their approval by the IMF Executive Board in February, reaffirming Egypt’s commitment to pressing ahead with economic reforms despite ongoing regional and international challenges and crises. Shenawy added that Georgieva praised the strong political will and Egypt’s serious commitment to continuing economic reform efforts aimed at enhancing macroeconomic stability, achieving fiscal discipline and improving the business climate. She also affirmed the IMF’s keenness to maintain close cooperation with the Egyptian government in support of these efforts.
The spokesman noted that President El-Sisi and the IMF chief also discussed the negative economic repercussions of the Iranian crisis and the prevailing uncertainty in the Middle East, as well as their impact on Egypt and other developing economies, particularly regarding energy and food security in countries reliant on imported petroleum products and strategic commodities. President El-Sisi stressed the importance of international financial institutions and development partners playing an effective role in providing the necessary support to enhance the economic resilience and stability of developing and least-developed countries in confronting current challenges.
He also highlighted the proactive measures adopted by Egypt to preserve economic stability and fiscal discipline, foremost among them maintaining exchange rate flexibility as a key pillar of monetary policy and a mechanism for absorbing shocks. For her part, Georgieva reviewed measures being implemented by the IMF to help member states cope with current global challenges.