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IMF to review Egypt next Thursday
The International Monetary Fund is preparing to approve the seventh review of the Extended Fund Facility program with Egypt, with an expected disbursement of around $1.6 billion during the Executive Board meeting on Thursday, July 30. Egypt and the IMF reached a staff-level agreement last June. This update comes as part of efforts to support the Egyptian economy amid the economic repercussions of the Israeli war on Gaza and its impact on the country. This review is part of Egypt’s ongoing efforts to secure continuous funding, as the IMF program size was increased from $3 billion to $8 billion in March 2024. Egypt has also continued to obtain international funding and support to bolster its economic stability.
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