IMF board clears fifth & sixth reviews, releases $2.3B to Egypt

The Executive Board of the International Monetary Fund (IMF) has approved the combined fifth and sixth reviews of Egypt’s economic reform program under the Extended Fund Facility, along with the first review under the Resilience and Sustainability Facility, paving the way for the immediate disbursement of around $2.3 billion.

The approval enables Egypt to access nearly $2 billion under the Extended Fund Facility and $273 million through the Resilience and Sustainability Facility, bringing total disbursements under the two programs to about $5.21 billion. Egypt’s Extended Fund Facility arrangement, initially approved in December 2022, has also been extended until December 15, 2026.

The International Monetary Fund noted that Egypt’s macroeconomic indicators have continued to improve, supported by stabilization measures and policy reforms. Real gross domestic product growth reached 4.4 percent in fiscal year 2024/2025, while inflation eased significantly to 11.9 percent in January 2026, reflecting tight monetary and fiscal policies.

Egypt’s current account deficit narrowed to 4.2 percent of gross domestic product, backed by strong remittance inflows and higher tourism revenues. The Fund also pointed to improving market confidence, citing successful international bond issuances, rising foreign direct investment, and record foreign participation in Egypt’s local debt market.