The International Monetary Fund said it has reached a staff-level agreement with Egypt on long-delayed reviews of its $8 billion loan programme, as Cairo continues its economic reforms.
If approved by the IMF’s executive board, the new disbursement would unlock about $1.2 billion under the main programme and $1.3 billion through the Resilience and Sustainability Facility (RSF), adding to the $3.2 billion Egypt has received.
The latest funding is expected to strengthen reserves, ease fiscal pressures and reinforce confidence among international lenders.
The agreement covers the fifth and sixth reviews under Egypt’s Extended Fund Facility (EFF) and the first review of the RSF, the IMF said in a statement following a mission to Cairo for talks with officials.
“Stabilisation efforts have delivered important gains and the Egyptian economy is showing signs of robust growth,” said mission chief Ivanna Vladkova Hollar.
The IMF cited stronger output, an improving balance of payment
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