Egypt expects $1.7 bln IMF disbursement next week – PM

Egypt expects to receive a $1.7 billion disbursement from the International Monetary Fund (IMF) next week after the lender’s Executive Board considers the seventh review of the country’s economic reform programme on Thursday, Prime Minister Moustafa Madbouly said.

Madbouly said the IMF Executive Board was due to meet later on Thursday to review Egypt’s performance under the IMF-supported programme.

“We expect the Executive Board to approve the review, allowing Egypt to receive the $1.7 billion tranche next week,” Madbouly told a press conference.

The payment would be the latest disbursement under Egypt’s IMF programme, which was expanded in March 2024 as part of broader efforts to support the country’s economic reform agenda and help meet its external financing needs.

The IMF reached a staff-level agreement with the Egyptian authorities on the seventh review on 30 June, subject to approval by the Fund’s Executive Board.

The review assesses Egypt’s progress in implementing reforms under the programme, including measures aimed at preserving macroeconomic stability, strengthening fiscal and monetary policies, and advancing structural reforms to support private sector-led growth.

Attribution: Amwal Al Ghad English