Egypt: IMF Approves €2 Billion to Support Economic Recovery

Egypt, North Africa’s largest economy, continues its economic recovery following a crisis marked by a sharp depreciation of its currency and record-high inflation. To support this rebound, the International Monetary Fund (IMF) has approved a new disbursement of approximately $2.3 billion, equivalent to about €2 billion.

This tranche follows the completion of the fifth and sixth reviews of Egypt’s Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). It is part of a broader program of around $8 billion agreed between the IMF and Egyptian authorities to stabilize the national currency, reduce inflation, and support structural reforms.

According to the IMF, the decision reflects Egypt’s macroeconomic progress, while emphasizing that further efforts are needed to improve governance, competitiveness, and economic resilience. International news agencies such as Reuters and Xinhua confirm the disbursement and note that the support aims to foster growth and maintain the country’s financial stability.

Egypt continues to face a global environment of high inflation and pressure on foreign exchange markets. Nevertheless, this funding represents a significant support to consolidate the recovery and strengthen investor confidence.