Egypt expects to complete a combined review of its $8 billion loan programme with the International Monetary Fund (IMF) by September or October, Finance Minister Ahmed Kouchouk said Wednesday. The minister expressed confidence in meeting key reform targets set by the lender. "Both sides are working on the expectation that this should be happening in September, October," Minister Kouchouk told Reuters on the sidelines of an event at the London Stock Exchange. "The IMF is after certain targets – and that's what is important." The minister said Cairo was committed to pushing ahead with its reform agenda as it works with the IMF to complete the fifth and sixth programme reviews, which were merged earlier this month to allow Egypt more time to hit policy benchmarks. A successful review would unlock around $2.5 billion in fresh funding, offering a critical boost to Egypt's external finances amid persistent debt and currency pressures. Minister Kouchouk also said Egypt planned to finalise three to four privatisation deals before the end of the current fiscal year, which began this month. Selling state-owned assets and expanding the private sector's role are central requirements of Egypt's IMF-backed programme. "It will be across a lot of sectors," he said, adding that the government has shared a medium-term divestment plan with the IMF and other international institutions, including a "very clear, visible timeline." Earlier this year, Egypt's Cabinet said stakes in military-owned companies would be offered via the Sovereign Fund of Egypt (TSFE), part of efforts to reduce the state's footprint in the economy and attract foreign capital. Gulf Investments Continue Minister Kouchouk said Egypt remained in talks with Middle Eastern and European investors, particularly in renewables, energy, tourism, and real estate. Cairo has been relying heavily on Gulf funding to support its economy and narrow its financing gap. In recent months, Egypt has secured multi-billion-dollar deals including a $35 billion agreement with the United Arab Emirates to develop part of its Mediterranean coast, a $5 billion package from Saudi Arabia, and a $7.5 billion investment plan with Qatar announced in April. "We are expecting more and more big announcements on the energy, on the renewables, on the tourism, as well as on the real estate and the financial sector," Minister Kouchouk said. Attribution: Reuters
