Egypt fast-tracks privatization drive to meet IMF reform commitments
Government aims to complete public offering program ahead of next IMF loan review
CAIRO, Egypt (MNTV) — Egypt’s Prime Minister Mostafa Madbouly has announced plans to accelerate the country’s long-delayed privatisation program, reaffirming Cairo’s commitment to structural reforms required under its $8 billion loan agreement with the International Monetary Fund (IMF).
Madbouly said the government is determined to finalize the public offering program “as soon as possible,” emphasizing the need to engage senior executives from both the public and private sectors to oversee the process.
According to a statement issued by the Council of Ministers, Egypt’s latest economic indicators point to a growing role for private sector participation, accompanied by a significant reduction in public investment.
Madbouly said regular ministerial meetings will be convened to track the pace of implementation and ensure that the reform timeline remains on schedule.
The privatisation plan targets a range of key sectors, including telecommunications, banking, petrochemicals, pharmaceuticals, mining, oil and gas, tourism, airports, and real estate.
As part of the initiative, the government also aims to revitalise the Cairo Stock Exchange, positioning it as a major investment hub and opening up select state-owned enterprises to foreign strategic investors.
The renewed push comes ahead of the IMF’s postponed fifth review of Egypt’s Extended Fund Facility program.
The international lender delayed its evaluation earlier this year, citing slow progress in meeting Egypt’s commitments to reduce state involvement in the economy and expand private investment.
Julie Kozack, the IMF’s Communications Director, reiterated in July that adherence to reform milestones is critical to unlocking the next tranche of financial assistance, expected before the end of 2025.
Finance Minister Ahmed Kouchouk defended Cairo’s reform record, insisting that the country remains “on track with its structural transformation agenda.”
He noted that private investment has surged by 73 percent, reflecting what he described as the “growing strength and confidence in Egypt’s economic strategy.”
Analysts say the government’s renewed urgency signals its intention to reassure both the IMF and international investors that long-promised economic liberalisation measures are underway—a crucial step as Egypt grapples with foreign currency shortages and rising fiscal pressures.
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