IMF mission to conclude Egypt’s EFF programme 4th review next week: PM Madbouly

Ahram Online , Thursday 14 Nov 2024

Prime Minister Mostafa Madbouly announced Thursday that the International Monetary Fund (IMF) mission for the fourth review of the ongoing Extended Fund Facility (EFF) programme will conclude its work next week.

Mostafa Madbouly
Egypt’s Prime Minister Mostafa Madbouly

 

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This fourth review of Egypt's loan programme started on 5 November. Under it, the country will receive $1.3 billion.

Earlier, there was a third review, concluded in July, which granted Egypt access to an $820 million tranche from the EFF loan.

Currently, Egypt is under a $8 billion Extended Fund Facility (EFF) loan programme with the IMF.

According to the IMF's Global Financial Stability Report, despite ongoing debt challenges and high inflation, Egypt has experienced positive net portfolio flows in recent months, with substantial investments in local currency bonds.

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