The International Monetary Fund (IMF) will conduct its fourth review of Egypt’s economic reform program next month, a government official told Asharq Business.
Completing this review would unlock a USD 1.3 billion (EGP 62.7 billion) tranche for Egypt — the fourth and largest disbursement under the current loan agreement.
In July, the IMF approved the release of the third tranche to Egypt, also valued at USD 820 million (EGP 39.6 billion).
In its latest economic review in August, the IMF stressed the importance of consolidating Egypt’s tax revenues to sustainably boost its primary budget surplus, while freeing up resources for priority spending.
The IMF also advised the government to take advantage of improved market conditions to build a stronger debt management strategy that could help reduce overall financing needs.
While acknowledging Egypt’s efforts in privatizing state assets, it reiterated the need for further privatization during the last review.
The IMF continues to exist as a significant presence in Egypt’s economic situation, having provided the government with several financial packages in the previous years.
Most recently, the two signed a USD 3 billion loan (EGP 68 billion at the time) agreement in October 2022, expanding to USD 8 billion (EGP 385 billion) in March 2024 in light of worsening economic standards due to regional conflicts affecting global markets.
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