Egypt is set to receive a USD 1.2 billion (EGP 60.8 billion) disbursement from the International Monetary Fund (IMF) in January 2025 as part of its USD 8 billion (EGP 405.2 billion) Extended Fund Facility (EFF) programme, Minister of Finance Ahmed Kouchouk announced during an interview on ON TV. Kouchouk confirmed that the IMF’s executive board is scheduled to meet in January. The EFF loan, initially approved in December 2022 as a USD 3 billion (EGP 151.9 billion) programme, was extended to USD 8 billion (EGP 405.2 billion) in March 2024 to address Egypt’s economic challenges, including high inflation and foreign currency shortage. The 46-month programme will conclude in September 2026. So far, Egypt has received USD 2 billion (EGP 101.3 billion) of the loan, divided into three installments: USD 347 million (EGP 17.6 billion) in December 2022, USD 1.1 billion (EGP 55.7 billion) in April 2024, and USD 547 million (EGP 27.7 billion) in August 2024 following postponed reviews. Kouchouk also addressed concerns about Egypt’s energy sector, confirming that there will be no power outages in 2025. He noted plans to add 7,000 megawatts of new energy capacity by…
