The International Monetary Fund (IMF) has reached a staff-level agreement with Egypt on the seventh review of the country’s Extended Fund Facility (EFF) programme and the second review under the Resilience and Sustainability Facility (RSF), paving the way for approximately $1.64 billion in additional financing, subject to approval by the IMF Executive Board.
Completion of the reviews would unlock SDR 1.11 billion (about $1.5 billion) under the EFF, alongside SDR 100 million (around $136 million) through the RSF, according to the IMF.
The Fund said the economic impact of the recent Middle East conflict had remained relatively contained, supported by government measures including fuel and electricity price adjustments, energy conservation initiatives and expenditure reprioritization. It added that Egypt’s flexible exchange-rate regime had continued to strengthen the economy’s resilience to external shocks.
While acknowledging progress in macroeconomic stabilization, the IMF stressed that accelerating structural reforms remains essential to sustain growth. It called for faster implementation of the State Ownership Policy, stronger private-sector participation and continued fiscal discipline to support investment, reduce public debt and reinforce long-term economic stability.
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