IMF Mission in Egypt Opens File on Disbursing $1.6 Billion During the Summer

The International Monetary Fund announced that a mission of its experts has begun a visit to Egypt to conduct the periodic reviews linked to the Extended Fund Facility program and the Resilience and Sustainability Facility, as part of monitoring the commitments of the current economic program with Cairo.

The visit comes in the context of assessing the course of economic reforms, with its results set to determine the fate of a financial tranche estimated at about $1.6 billion, which is expected to be disbursed under the program in the coming period.

In this context, IMF spokesperson Julie Kozack explained that if a staff-level agreement is reached with the Egyptian authorities, the Fund’s Executive Board will vote on completing the reviews and approving the disbursement of the financial tranche during the summer months.

The Egyptian side is awaiting the outcome of these reviews, at a time when the economic program with the Fund continues along the path of implementation and follow-up in line with the previous understandings between the two sides.