The Executive Director at the International Monetary Fund (IMF) representing the Arab Group and Maldives on the Executive Board, Mohamed Maait, anticipates the transfer of the seventh tranche under the Extended Fund Facility (EFF) program with Egypt, alongside the second tranche under the Resilience and Sustainability Facility (RSF)—totaling $1.774 billion—within five business days following final board approval and the endorsement of the seventh review scheduled for Thursday, in Washington, D.C.
The Central Bank of Egypt (CBE) is expected to receive the disbursed funds early next week, following the inclusion of Egypt’s dossier on the agenda of the Executive Board meeting to consider the approval of the seventh review under the EFF arrangement.
Maait explained that Egypt will receive a total payout of $1.774 billion within days.
This includes $1.5 billion for the seventh review of the core EFF arrangement and approximately $274 million designated under the Resilience and Sustainability Facility to finance environmental and climate projects in Egypt.
He emphasized that the final value of both tranches remains subject to precise calculations tied to exchange rates and Special Drawing Rights.
IMF-supported financing program
This comes within the framework of an IMF-supported financing program for Egypt, which encompasses an eight billion dollar Extended Fund Facility alongside an additional $1.3 billion provided through the Resilience and Sustainability Facility.
The former Chairman of the Plan and Budget Committee in the House of Representatives and Professor of Economics at Cairo University, Fakhri al-Feky, expects that the two IMF tranches will help boost foreign exchange reserves at the Central Bank, foster greater local exchange rate stability, and cover certain international financial obligations related to foreign debt installments.
However, Professor of Economics at Cairo University Medhat Nafei, called for reducing or waiving a portion of the interest due on external debt, particularly as the government paid over eight billion dollars in interest during 2025 alone.
He clarified that these mentioned obligations do not represent debt principal installments, but rather interest payments, highlighting the pressing need to invest in human resources instead of debt service.
“In 2025, external debt service payments reached $33.4 billion, comprising $25.36 billion in principal repayments and $8.06 billion in interest—meaning that roughly 24 percent of total payments went strictly toward interest,” Nafei stated.
He added that debt service payments decreased in 2025 by approximately 13.6% compared to 2024, describing this as a positive development.
He noted that the true challenge lies not only in reducing total payments but also in curbing reliance on high-cost borrowing so that state resources can shift from interest servicing to funding economic development.
IMF to provide $1.774 billion to Egypt following final Executive Board approval Egypt Independent.
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