WASHINGTON (Reuters)

The International Monetary Fund (IMF) stated on Thursday that Egypt's $8 billion loan programme remains "still appropriate." The IMF will prioritize assessing the effectiveness of Egypt's social protection programmes.

Egypt's President Abdel Fattah al-Sisi indicated on Sunday that the country might need to reconsider its expanded loan programme if international institutions overlook the extraordinary regional challenges it faces.

The support package signed with the IMF in March stipulates that Egypt must reduce subsidies on fuel, electricity, and other commodities while allowing its currency to float freely—measures that have ignited public outrage.

The IMF announced on Thursday that they are collaborating with Egyptian authorities to enhance the outreach of the social protection program to ensure its adequacy.

Jihad Azour, the IMF director for the Middle East and Central Asia Department, mentioned that evaluating the effectiveness of these programs would be a priority topic of discussion for the managing director.

Azour emphasized the importance of maintaining the flexibility of Egypt's currency exchange rate, which is also a condition for the loan.