Egypt reaches preliminary IMF deal for $1.64 billion in new funding

Egypt has reached a preliminary agreement with the International Monetary Fund (IMF) that could unlock about $1.64 billion in new financing, subject to approval by the Fund’s Executive Board, the government announced on Tuesday.

Egyptian Prime Minister Mostafa Madbouly said in a statement that the government and an IMF mission had reached a staff-level agreement on the seventh review of Egypt’s Extended Fund Facility (EFF) programme, as well as the second review under the Resilience and Sustainability Facility (RSF). No date was given for the Executive Board’s decision.

The EFF is one of the IMF’s main lending programmes, designed to support countries facing long-term structural balance of payments problems in return for economic reforms aimed at promoting stability and sustainable growth.

The IMF approved Egypt’s EFF arrangement in December 2022, with funding to be released in stages after periodic reviews confirm the country’s compliance with agreed reform commitments.

The RSF is a newer IMF financing programme that supports low- and middle-income countries in addressing long-term challenges such as climate change and pandemic preparedness through long-term concessional financing in exchange for implementing reforms that enhance resilience and sustainability.

The IMF approved Egypt’s participation in the RSF on 10 March 2025 and completed the programme’s first review on 25 February 2026.

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