The International Monetary Fund’s (IMF) executive board is set to discuss the fourth review of Egypt’s Extended Fund Facility (EFF) program on Monday, 10 March, alongside the approval of a USD 1.3 billion (EGP 65.89 billion) loan under the Resilience and Sustainability Financing (RSF) mechanism, according to state media outlet Al-Ahram.
Julie Kozack, director of the IMF’s Communications Department, confirmed the upcoming review during a press briefing on Thursday, 6 March.
She stated that Egypt would have access to USD 1.2 billion (EGP 60.8 billion) under the EFF program, while the RSF loan, aimed at supporting climate-related and economic resilience reforms, would be subject to board approval.
Kozack clarified that, like other IMF programs, the RSF loan would be disbursed in tranches rather than as a lump sum, with further details to be announced following the board’s decision.
This review follows the IMF’s decision in March 2024 to augment Egypt’s loan program by an additional USD 5 billion (EGP 253.4 billion), increasing the total support to USD 8 billion (EGP 405.4 billion) to bolster the country’s economic stability.
The original 46-month USD 3 billion (EGP 152 billion) EFF arrangement, agreed upon in December 2022, was later increased to help Egypt navigate economic challenges, including a currency crisis and rising inflation.
In December 2024, IMF staff and Egyptian authorities reached a staff-level agreement on this fourth review, acknowledging Egypt’s efforts to maintain macroeconomic stability despite challenging external and domestic conditions.
