International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Mar 30, 2024

International Monetary Fund (IMF) Executive Board Completes the First and Second Reviews of Extended Fund Facility Arrangement for Egypt, Approves Augmentation of the Arrangement

The plan is centered on a liberalized foreign exchange system in the context of a flexible exchange rate regime

The IMF Board today completed the First and Second Reviews of the extended arrangement under the Extended Fund Facility (EFF) for Egypt and approved an augmentation of the original program by about US$5 billion (SDR 3.76 billion), allowing the authorities to draw the equivalent of about US$820 million (SDR 618.1…

Source: International Monetary Fund (IMF) | Dec 17, 2022

International Monetary Fund (IMF) Executive Board Approves 46-month US$3 billion Extended Arrangement for Egypt

Egypt’s IMF-supported program presents a comprehensive policy package to preserve macroeconomic stability, restore buffers, and pave the way for inclusive and private-sector-led growth

The IMF Executive Board approved a 46-month arrangement under the Extended Fund Facility (EFF) for Egypt in an amount of about US$3 billion; Egypt’s IMF-supported program presents a comprehensive policy package to preserve macroeconomic stability, restore buffers, and pave the way for inclusive and private-sector-led growth. The package includes a…

Source: International Monetary Fund (IMF) | Oct 27, 2022

Egypt: International Monetary Fund (IMF) Reaches Staff-Level Agreement on an Extended Fund Facility Arrangement

An International Monetary Fund (IMF) team held meetings to finalize discussions on IMF support for Egypt and the authorities’ comprehensive economic reform program

International Monetary Fund (IMF) staff and the Egyptian authorities have reached a staff-level agreement on comprehensive economic policies and reforms to be supported by a 46-month Extended Fund Facility (EFF) Arrangement of US$3 billion; The new EFF aims to safeguard macroeconomic stability and debt sustainability, improve Egypt’s resilience to external…

Source: International Monetary Fund (IMF) | Jul 08, 2022

International Monetary Fund (IMF) Staff Concludes Visit to Egypt

The IMF staff team and the Egyptian authorities had productive discussions on economic policies and reforms to be supported by an IMF Extended Fund Facility (EFF)

An International Monetary Fund (IMF) team led by Ms. Céline Allard visited Cairo from June 26 to July 7 to discuss IMF support for the Egyptian authorities’ comprehensive economic reform program. At the end of the mission, Ms. Allard issued the following statement: “The IMF staff team and the Egyptian…

Source: International Monetary Fund (IMF) | Jun 27, 2020

Coronavirus - Egypt: IMF Executive Board Approves 12-month US$5.2 Billion Stand-By Arrangement for Egypt

Structural reforms will aim to continue strengthening the frameworks for public finances, improve governance and transparency, and reduce barriers to competition to ensure a path towards sustainable and inclusive private sector-led growth

The IMF approved a 12-month Stand-by Arrangement (SBA), with total access of about US$5.2 billion to address balance of payments financing needs arising from the COVID-19. Approval of the SBA enables the immediate disbursement of about US$2 billion; The SBA will support the authorities’ efforts to preserve the macroeconomic achievements…

Source: International Monetary Fund (IMF) | Jun 06, 2020

Coronavirus - Egypt: IMF Reaches Staff-Level Agreement on a 12-Month US$5.2 Billion Stand-By Arrangement

Financing from Egypt’s international partners will be critical to support the key reform objectives and ensure reform success

Egypt’s Stand-By Arrangement (SBA)—following support under the IMF’s Rapid Financing Facility (RFI)—aims to alleviate the economic impact of the COVID-19 pandemic, helping maintain macroeconomic stability, strengthen the social safety net, and support reforms to spur private-sector-led growth and job creation; Financing from Egypt’s international partners will be critical to support…

Source: International Monetary Fund (IMF) | May 11, 2020

Coronavirus - Egypt: International Monetary Fund (IMF) Executive Board approves US$ 2.772 Billion in Emergency Support to Egypt to address the COVID-19 Pandemic

Pandemic and global shock pose an immediate and severe economic disruption that could negatively impact Egypt’s hard-won macroeconomic stability

The Executive Board of the IMF approved Egypt’s request for emergency financial assistance of US$ 2.772 billion to meet the urgent balance of payments needs stemming from the outbreak of the COVID-19 pandemic; the pandemic and global shock pose an immediate and severe economic disruption that could negatively impact Egypt’s…