IMF set to review Egypt’s economic reform programme

The International Monetary Fund will begin its fifth review of Egypt’s $8 billion loan programme this week, with officials visiting Cairo from May 7–16, according to an IMF statement cited by Reuters. The review follows a $1.2 billion disbursement in March, plus $1.3 billion in additional financing under the Resilience and Sustainability Fund.
Egypt continues to face high inflation—peaking at 38% in 2023—and persistent foreign currency shortages. In March, the IMF approved a lower primary budget surplus target of 4% of GDP for the next fiscal year, down from the 4.5% previously pledged.

Originally signed in 2022 and expanded after the Gaza conflict, the programme aims to stabilise the economy through fiscal reform, currency flexibility, and private sector growth. A staff report from the fourth review remains unpublished at Cairo’s request. The outcome of this review will be closely watched by investors