Economic Update: IMF Review of Egypt’s Economic Reform Program
The International Monetary Fund (IMF) announced on Tuesday that its Executive Council has continued the fourth review of Egypt’s Economic Reform Program, which is supported by the extended fund facility arrangement. This review is a crucial part of monitoring the economic progress and reform measures undertaken by the Egyptian authorities.
As a result of completing this review, the Egyptian government is authorized to access approximately $1.2 billion, equivalent to 922.87 million special drawing rights, immediately. This financial support underscores the IMF’s commitment to assisting Egypt in its economic stabilization efforts.
Moreover, the IMF’s Executive Council granted approval for an additional request from Egyptian authorities to secure an arrangement under the Flexibility and Sustainability Fund (RSF), which could potentially lead to an influx of around $1.3 billion, or one billion special drawing rights, as detailed in the fund’s statement.
The Executive Council also concluded its consultations under Article IV for 2025 regarding the Egyptian economy, furthering the dialogue between the IMF and Egyptian officials on fiscal policy and economic reforms.
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