Arab Finance: An International Monetary Fund (IMF) team is currently in Cairo to discuss the final reviews of Egypt's Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) programs, aiming to reach a staff-level agreement and submit the reviews to the IMF's Executive Board before the EFF expires on December 15, Julie Kozack, Director of the IMF’s Communications Department, said.

Speaking at a press briefing, Kozack noted that the final disbursement under the $8 billion EFF program is expected to amount to about $2.33 billion.

Discussions with Egyptian authorities will center on maintaining tight monetary policy and continuing fiscal consolidation to safeguard the macroeconomic stability Egypt has worked to achieve, she highlighted.

Structural reforms also remain central to the talks to support stronger economic growth increasingly driven by the private sector, Kozack added.

The discussions come as the Central Bank of Egypt (CBE) unexpectedly raised interest rates on October 29, marking its first increase since March 6, 2024.

It is worth noting that the IMF approved financing totaling about $1.8 billion for Egypt after completing the seventh review of the EFF in July. 

Earlier in October, the IMF raised its forecast for Egypt’s economic growth in fiscal year (FY) 2026/2027 to 4.7%, compared with the 4.4% projected in July.