The International Monetary Fund outlined the goals of its current mission in Cairo, saying the main aim is to reach a staff-level agreement with the Egyptian authorities as soon as possible. The Fund said the agreement would then go to its Executive Board for final approval, with the aim of formally completing this step before mid-December.

The IMF mission said the ongoing talks are focusing heavily on the need to maintain a tight monetary policy in the coming period to address economic challenges. Sources stressed the importance of continuing to implement plans for fiscal adjustment and consolidation, describing these measures as the key guarantee of the macroeconomic stability the state is seeking to entrench.

Julie Kozack, director of the IMF's Communications Department, said the efforts Egypt has made to achieve economic stability in recent periods have been significant and tangible. Speaking at a regular press briefing, Kozack said the current discussions aim to build on those gains so that economic indicators do not slip back, and to provide a safe environment for both foreign and domestic investment.

Kozack said structural and fundamental reforms are the main, central pillar of all the mission's talks with Egyptian officials. She described adherence to the agreed reform timetable as a necessary condition for strengthening confidence in Egypt's economy and ensuring the flow of financing needed to support the state budget and close financing gaps.

Ultimately, these moves and reforms aim to boost the country's economic growth and make it more sustainable and resilient to global volatility. Through this partnership, the Fund seeks to enable the private sector to play a larger, leading role in driving production, helping to create new jobs and reduce reliance on direct government financing.