What You Need to Know
Egypt is preparing to receive the fifth and sixth tranches of its IMF loan program, totaling approximately $2.3 billion. The approval from the IMF’s executive board is expected on February 25, which will facilitate the disbursement of funds aimed at improving economic indicators and stabilizing prices for citizens.
Africa-Press. The Executive Director and member of the Executive Board, representing the Arab Group and the Maldives at the International Monetary Fund, and former Egyptian Minister of Finance, Mohamed Maait, stated that Egypt will receive the fifth and sixth tranches of the loan program within three days of the IMF Board’s approval, which is scheduled to discuss the matter in its meeting on February 25.
Maait explained that the total value of the two tranches, in addition to the first installment of the Resilience and Sustainability Fund, amounts to approximately $2.3 billion, as part of the fifth and sixth reviews under the Extended Fund Facility agreement, along with the first review of the Resilience and Sustainability Fund.
This coincides with Egypt being placed on the agenda of the IMF Executive Board on February 25 to consider the fifth and sixth reviews of the Extended Fund Facility program, as well as the first review of the Resilience and Sustainability Fund, a step that paves the way for the disbursement of funding after the Board’s approval.
Regarding economic indicators, Maait anticipated an improvement in the debt-to-GDP ratio and an increase in growth rates towards 5%, emphasizing that the most important aspect is the reflection of this improvement on citizens’ living conditions through price stability and enhanced purchasing power.
He also stressed that a decrease in inflation indicates a slowdown in the pace of price increases, which supports price stability for consumers.
Egypt has been engaged in a loan program with the International Monetary Fund (IMF) to support its economic reforms and stability. The current agreement, known as the Extended Fund Facility, aims to provide financial assistance while implementing necessary structural changes to boost growth and sustainability. The upcoming disbursement of funds is crucial for Egypt’s economic recovery and development plans.
The IMF’s involvement in Egypt’s economy reflects a broader trend where countries seek external support to navigate financial challenges. The loans are intended to stabilize the economy, enhance growth prospects, and improve living standards for citizens. As Egypt continues to work with,
