The International Monetary Fund approved the disbursement of $1.2 billion to Egypt following completion of the fourth review of the country's $8 billion economic reform programme, after allowing Egypt to waive a primary budget surplus target.

The International Monetary Fund approved $2.5 billion in financing for Egypt — about half of which will be paid out immediately — in a boost for the country seeking to emerge from its worst economic crisis in decades.

The IMF said in a statement it completed its fourth review on Monday and Egyptian authorities can immediately draw the funds. The IMF executive board also granted Egypt’s request for an arrangement under the Resilience and Sustainability Facility with access to an additional $1.3 billion.

The board also approved Egypt’s request for an arrangement under the Resilience and Sustainability Facility (RSF) with access to about $1.3 billion

In December 2024, the Egyptian government and the IMF announced in separate statements that they had reached a staff-level agreement on the completion of the fourth review of an economic reform program, enabling Cairo to receive a tranche of $1.2 billion out of a total program loan of $8 billion.

CAIRO (Reuters) - The International Monetary Fund has approved the disbursement of $1.2 billion to Egypt after completing the fourth review of the country's $8 billion economic reform programme with the lender.