Egypt is set to save $800 million by 2030 following the International Monetary Fund's (IMF) recent move to reduce fees on its loans and programs.

IMF Managing Director, Kristalina Georgieva, revealed this in an interview with Al-Sharq, where she also mentioned that the IMF may reconsider its support conditions for Lebanon amid the ongoing conflict.

By lowering borrowing costs, the IMF has offered substantial financial relief to its member nations.

The IMF Executive Board recently approved a set of fee reduction measures, expected to save member countries a total of $1.2 billion annually.

This initiative will particularly benefit major IMF borrowers, including Argentina, Egypt, Ukraine, and Ecuador, which have shouldered a large share of the surcharge costs.

Recently in October, in an interview with Youm7, she said that the tensions in the Middle East region affected the Egyptian economy, as it lost 70% of Suez Canal revenues due to the Gaza war.

She said that she will visit Egypt within 10 days to review the economic indicators and the nature of the economic situation in light of the regional and global changes that have affected the Egyptian economy.