IMF Schedules Egypt Review for July 30

The International Monetary Fund (IMF) has scheduled in its upcoming Executive Board meetings on July 30th a review of the seventh review of the Extended Fund Facility program and a second review of the Resilience and Sustainability Facility program, paving the way for the launch of new funding of nearly $1.6 billion for Egypt; this includes approximately $1.5 billion from the Facilitation Program and $136 million from the Resilience Program, following a technical agreement reached in June, pending final approval. The IMF confirmed that the Egyptian economy has demonstrated resilience in the face of the Middle East conflict's repercussions, supported by government measures, with a focus on completing reforms to strengthen economic stability and the role of the private sector. As a result, the total financing provided to Egypt has risen to around $7.2 billion.

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