IMF completes reviews in Egypt unlocking $1.8 billion

The International Monetary Fund said on Thursday that it has completed two reviews of some facilities for Egypt, allowing Cairo to ​access about $1.8 billion.

Prime Minister Mostafa Madbouly has welcomed the outcome, describing it as a renewed vote of confidence in the country's economic reform programme.

He said the global lender praised the government's policy response, including exchange rate flexibility, energy price reforms, and fiscal discipline.

After completing the seventh review, this will now unlock about $1.5 billion under ‌the IMF's 48-month loan programme.

Egypt will also have access to some $272 million under the Resilience and Sustainability Facility.

Cairo agreed to a $3 ​billion loan with the IMF in 2022.

This was expanded to $8 billion in 2024, when the country ​was grappling with high inflation and foreign currency shortages.

The IMF said ​Egypt's economy has remained resilient to spillovers from the ongoing war in the Middle East, having entered the period in a stronger macroeconomic position.

It warned, however, that significant vulnerabilities remain, including public debt and the large state role in the economy.