The International Monetary Fund (IMF) has completed the fourth review of Egypt’s loan program, unlocking a disbursement of USD 1.2 billion (EGP 60.8 billion), according to Finance Minister Ahmed Kouchouk.
The announcement was made during the Finance Ministry’s annual iftar, but an official statement from the IMF is still awaited.
IMF Executive Director for the Arab Group and Former Minister of Finance, Mohamed Maait, confirmed that Egypt will receive the funds within days following the IMF Executive Board’s approval on Monday, 10 March.
This review follows the IMF’s decision in March 2024 to increase 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.
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.
Beyond the USD 1.2 billion (EGP 60.8 billion) tranche, Egypt is also set to receive an additional USD 1.3 billion (EGP 65.89 billion) under the IMF’s Resilience and Sustainability Facility (RSF), which supports climate adaptation and economic resilience.
Unlike the loan tranche, the RSF funds will be disbursed in phases rather than as a lump sum. However, the timeline for the first installment remains uncertain, according to Maait.
The loan package aims to support Egypt’s economic reform agenda, which includes a shift to a more flexible exchange rate, structural reforms, and efforts to attract foreign investment.
With the program progressing as planned, Egypt is preparing for its fifth review in the coming months.
