imf
The International Monetary Fund announced it has completed two reviews of Egypt’s loan facilities, clearing the way for Cairo to access approximately $1.8 billion for its ongoing stabilization efforts. The approval includes about $1.5 billion under Egypt’s 48-month loan program and an additional $272 million through the Resilience and Sustainability Facility. Prime Minister Mostafa Madbouly described the decision as a renewed endorsement of Egypt’s reform agenda, highlighting progress on exchange rate flexibility, fiscal discipline, and energy price reforms. Egypt’s arrangement with the IMF began as a $3 billion loan in 2022 before expanding to $8 billion in 2024 amid soaring inflation and currency shortages. The IMF noted Egypt’s economy has withstood regional spillover effects from the Middle East conflict, though it cautioned that public debt and heavy state involvement in the economy remain ongoing risks.
Africanews