Amid rumors circulating about the International Monetary Fund (IMF) refusing to disburse a new loan installment to Egypt, Dr. Mohamed Fouad, an economic expert and member of the Cabinet’s Advisory Committee for Macroeconomics, has stepped in to dispel these claims. He provided a comprehensive explanation during a phone interview on the program “Bil Waraqa wal Qalam” aired on TeN channel. n nRumors had spread across media outlets and online platforms in recent days, suggesting that the IMF decided against releasing the next tranche due to Egypt’s failure to meet two conditions related to fuel subsidy removal. These reports stirred public confusion and raised concerns among those tracking the country’s economic developments. n nDr. Fouad firmly stated that such reports are entirely false. He clarified that the current financial arrangement with the IMF is not linked to social subsidies or domestic policy reforms. Instead, it falls under a dedicated environmental sustainability program worth $1.3 billion. The initiative focuses on climate adaptation and the transition to clean energy. Egypt is fulfilling technical and environmental benchmarks, including submitting carbon emissions reports from industrial firms—a process already underway as part of Egypt’s Vision 2030 strategy. n nHe attributed the misinformation to inaccurate reporting by a news agency, which was then amplified by other websites without verifying facts through official channels. This led to the spread of misleading information that unnecessarily alarmed the public. n nFouad emphasized that Egypt’s economy is not solely reliant on IMF programs. Rather, it operates within a broader national economic framework driven by local expertise and aligned with ambitious development goals. He noted that ongoing reforms, particularly in renewable energy and environmental stewardship, serve both international commitments and domestic needs for long-term economic resilience and sustainability. n
— news from aljomhour news
