Egypt Repays Over $10 Billion to IMF, Says Executive Director

The Executive Director representing the Arab Group at the International Monetary Fund (IMF), Mohamed Maait, announced that Egypt has repaid over $10 billion in principal to the IMF as part of its cooperation programs since 2016, excluding interest payments.

In press statements in Washington, Maait stated that the total value of Egypt’s three financing programs with the IMF since November 3, 2016, has reached $28 billion, including the current program. He explained that the ongoing IMF program is valued at $8 billion and is set to run until the end of December 2026. Egypt has received less than half of the current program’s funding to date, with around $5 billion remaining to be disbursed.

 Maait emphasized that the international financial community and global investors highly value Egypt’s economic reform experience, which has enabled the country to remain resilient in the face of global and regional crises, including the recent wave of tariffs imposed by the United States on multiple countries.

He further highlighted that the next phase for Egypt’s economy will focus on investment, growth, and employment, aiming to ensure sustainable GDP growth and boost export volumes.

The IMF Executive Board recently approved a $1.3 billion funding package for Egypt under the Resilience and Sustainability Facility (RSF), aimed at supporting climate-related reforms in renewable energy, water management, and carbon emission reduction.

The fourth tranche of this package, totaling $1.2 billion, has already been disbursed and added to the Central Bank of Egypt’s foreign currency reserves.