IMF schedules Egypt’s 4th, 5th reviews for Sept., March

The International Monetary Fund (IMF) announced on Tuesday the timeline for the upcoming reviews of Egypt’s economic reform programme. The fourth review under the extended arrangement under the Extended Fund Facility (EFF) is expected to be completed on or after September 15, 2024, while the fifth review is anticipated to be completed on or after March 15, 2025.

These reviews will be based on Egypt’s performance in meeting specific end-June 2024 and end-December 2024 performance criteria, the IMF’s third review report read.

“The fourth review is expected to be completed on or after September 15, 2024, and the fifth review is expected to be completed on or after March 15, 2025, based on end-June 2024 and end-December 2024 performance criteria, respectively.”

The IMF’s assessments will play a crucial role in determining the disbursement of additional funds under the EFF arrangement.

The IMF’s Executive Board completed the third review of Egypt’s economic reform programme on July 29, 2024. This positive assessment reflects the country’s progress in implementing key reforms and meeting the programme’s objectives. The EFF arrangement, originally approved in late 2022, was designed to support Egypt’s economic recovery and stability. In March 2024, the IMF and Egyptian authorities agreed to expand the programme’s scope and increase the total amount of funding available.

Attribution: IMF’s Third Review Report

Subediting: M. S. Salama