Egypt, IMF discuss reform progress in fifth review of $8 bln loan programme

The IMF team is in Cairo for the fifth review of Egypt’s $8 billion Extended Fund Facility (EFF) amid ongoing economic pressure and regional instability.

The review is expected to conclude before the fiscal year ends in June.

Al-Mashat reported steady GDP growth—from 2.4 percent to 4.3 percent over two quarters of FY 2024/25—despite regional tensions, driven by non-oil manufacturing, ICT, tourism, transport, and storage.

She called it “not just stronger growth, but higher-quality growth.”

She emphasized Egypt’s shift toward export-oriented, value-added sectors, which aim to cut public debt, attract investment, and reinforce fiscal discipline.

The meeting also addressed public investment governance, private-sector engagement, and cooperation with international partners. 

Al-Mashat highlighted the European Union’s (EU) €4 billion macroeconomic and budget support package, now entering its second phase.