The International Monetary Fund (IMF) has approved a $1.2 billion disbursement to Egypt, completing the fourth review of Cairo’s $8 billion economic reform programme, the lender announced on Tuesday.
The IMF also granted Egypt access to an additional $1.3 billion under its resilience and sustainability facility, bringing total new funding to $2.5 billion.
The approval comes after the IMF allowed Egypt to waive its primary budget surplus target, revising the country’s fiscal commitments. The primary balance surplus is now expected to reach 4% of GDP in the 2025/26 fiscal year, beginning July 1.
The IMF programme, signed in March 2024, aims to stabilize Egypt’s economy, which has been hit by high inflation, currency shortages, and regional trade disruptions.
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