Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt Expected to Receive $1.3 billion from IMF

Mon 01 Apr 2024 | 09:31 PM
The International Monetary Fund (IMF)
The International Monetary Fund (IMF)
Ahmed Emam

The International Monetary Fund (IMF) is set to finish its third review of Egypt's $8 billion loan by the end of June, and the last review will be done by 2026,  the IMF’s Mission Chief to Egypt, Ivanna Vladkova Hollar stated on Monday. 

The remaining five reviews will be conducted every six months, and each disbursement is expected to be around $1.3 billion. The final review is scheduled for the fall of 2026.

Hollar explained that the size of the IMF financing trenches largely depends on the timing and size of the balance of payments needs or external financing requirements of the member country. 

Egypt will receive $850 million after completing the first and second reviews under the extended 46-month $8 billion loan deal, as per Hollar.

The approved financing plan also considered the timing and availability of other financing sources to help external pressures. Hollar also added that the next review is expected to be carried out quarterly, which means a similarly sized dispersion is expected by the end of June, subject to the completion of the review conditions.

Furthermore, Hollar affirmed that the EFF loan is a longer-term structural reform program that supports the medium-term needs of the country.