EGYPT: A local report by Asharq Business citing an unnamed government official suggests that the International Monetary Fund (IMF) is unlikely to conduct the long-awaited first review of the US$3 billion bailout programme for Egypt this month as previously expected.
While the government official added that no specific date had been set for the review yet, it was likely to occur at the end of the year. Recall that last year, the IMF approved a 46-month programme for Egypt worth US$3bn, subject to two reviews annually until mid-September 2026. The first review, based on which a second tranche of the loan would be disbursed, was supposed to occur in mid-March but has not occurred due to slow progress by the government in implementing reforms. (ETM)
