The International Monetary Fund (IMF) has granted Egypt a waiver for not meeting its primary surplus targets after the country allocated additional foreign investment from the Ras El Hekma project toward debt reduction.
This move was a key factor in securing the IMF Board's approval, according to Ivana Vladkova Hollar, head of the IMF mission to Egypt.
Egypt has been actively pursuing economic reforms and foreign investments to stabilize its financial situation. The Ras El Hekma project, a major development on the Mediterranean coast, has attracted significant international interest, positioning it as a strategic asset in the country's economic plans.
On March 10, the IMF Executive Board completed its 2025 Article IV consultation and the fourth review of Egypt’s Extended Fund Facility (EFF) program. This review allowed Egypt to access $1.2 billion in funding, according to Julie Kozack, IMF Director of Communications.
Moreover, the board approved the Resilience and Sustainability Facility (RSF), enabling Egypt to receive approximately $1.3 billion over the program’s duration.
The IMF also raised its growth forecast for Egypt, projecting the economy to expand by 4.1% in the 2025-2026 fiscal year, up from 3.6% the previous year. Inflation is expected to continue declining, reaching 13.4% by the end of the period, Kozack stated during a press briefing on Thursday.
These economic projections will be updated in April’s World Economic Outlook, reflecting the latest global and domestic developments.
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