IMF Approves $1.8 Billion Funding for Egypt's Reforms

The International Monetary Fund (IMF) has completed two reviews of its financing arrangements with Egypt, allowing the country to access about $1.8 billion in additional funding to support its economic reform program. Egypt’s Prime Minister, Mostafa Madbouly, welcomed this decision, viewing it as a renewed vote of confidence in the government's efforts to stabilize the economy and implement key reforms.

He stated that the successful reviews reflect the IMF’s endorsement of Egypt’s policy measures, including exchange rate flexibility, energy price reforms, and efforts to strengthen fiscal discipline. The additional financing will aid ongoing reforms aimed at boosting investor confidence, addressing fiscal challenges, and sustaining economic recovery.

Following the completion of the seventh review, Egypt is set to receive approximately $1.5 billion under the IMF’s 48-month loan program and about $272 million under the IMF’s Resilience and Sustainability Facility. Egypt secured a $3 billion loan agreement with the IMF in 2022, which was expanded to $8 billion in 2024 due to high inflation and foreign currency shortages.