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IMF Completes Egypt Reviews, Unlocking About $2.3 Billion
The International Monetary Fund released $2.3 billion after Egypt's inflation fell from 38% to 11.9% and economic reforms showed progress, though challenges remain.
- On Wednesday, the International Monetary Fund allowed Egypt to draw about $2.3 billion after completing programme and Resilience and Sustainability Facility reviews confirmed by the IMF executive board in Washington.
- Following months of stabilisation measures, Egyptian authorities implemented pound flotation and interest-rate hikes that helped rein in inflation, the IMF said.
- Macroeconomic data show real GDP growth of 4.4% for FY 2024-25 and inflation at 11.9% in January, with the current-account deficit at 4.2% of GDP.
- The disbursement will ease Egypt's foreign-currency shortage, supported by strong remittances and tourism receipts, while rising foreign direct investment and Gulf partners including the United Arab Emirates signal growing market confidence.
- The fund cautioned that risks persist from uneven structural reforms, high public debt, and Houthi rebels and attacks on shipping routes, while Egypt's 46-month loan programme runs until December 15.
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IMF Approves $2.3 Billion Disbursement for Egypt After Latest Reviews
The International Monetary Fund (IMF) Executive Board has completed the fifth and sixth reviews of Egypt’s Extended Fund Facility (EFF) programme, alongside the first review under the Resilience and Sustainability Facility (RSF), allowing Egypt to draw around USD 2.3 billion (EGP 110.3 billion), according to an IMF statement. The approval enables Egypt to immediately access approximately USD 2 billion (EGP 95.9 billion) under the EFF and USD 273…
·Egypt
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Coverage Details
Total News Sources20
Leaning Left5Leaning Right2Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 39%
C 46%
15%
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