25-05-2025
IMF reaffirms support as Egypt advances 5th EFF review, IMF Mission concludes Cairo visit
Cairo – May 25, 2025: The International Monetary Fund (IMF) has affirmed its continued backing for Egypt as the country works through the fifth assessment of its $8 billion Extended Fund Facility (EFF) agreement.
Earlier this month, an IMF delegation traveled to Cairo to engage in talks with Egyptian officials concerning the review, which, upon completion, could lead to the release of a $1.2 billion installment.
This marks the second review following the program's expansion in March, when its total value was raised from $3 billion to $8 billion.
'The Fund remains committed to supporting Egypt in building its economic resilience and fostering higher private sector-led growth,' said Julie Kozack, the IMF's Communications Director, during a recent briefing.
She noted that Egypt has made 'clear progress on its macroeconomic reform program, with notable improvements in inflation and foreign exchange reserves.'
Kozack explained that IMF staff have spent the past few weeks in 'productive discussions with the Egyptian authorities on economic performance and policies under the EFF.' While the field portion of the mission has concluded, virtual meetings will continue in order to finalize policy agreements necessary to complete the review.
'The mission finished discussions in the field, and the meetings will continue virtually to finalize agreement on remaining policies and reforms that could support completion of the Fifth Review,' she stated.
Looking ahead, Kozack emphasized the importance of structural reforms to ensure Egypt's economic momentum continues. 'As Egypt's macroeconomic stabilization is taking hold, efforts must now focus on accelerating and deepening reforms that will reduce the footprint of the state in the Egyptian economy, level the playing field, and improve the business environment.'
The fifth review comes at a critical time for Egypt, as it approaches the end of its fiscal year in June while grappling with regional and global economic challenges. Completion of the review is a key step toward securing further IMF support and reinforcing investor confidence.
