The International Monetary Fund (IMF) has added Egypt to the agenda of its Executive Board meeting scheduled for Thursday to consider approving the seventh review under the Extended Fund Facility (EFF) program.
The meeting is expected to include discussions on requests for exemptions from and adjustments to certain performance criteria, as well as monetary policy consultations and the second review under the Flexible and Sustainable Facility (FSFF) program.
Egypt’s inclusion on the Executive Board’s agenda is a preliminary step toward final approval of the disbursement of the seventh tranche of the EFF loan, as well as the tranche related to the second review of the FSFF, totaling $1.6 billion.
This comes under the IMF-supported financing program for Egypt, which includes an $8 billion EFF arrangement and an additional $1.3 billion in financing through the FSFF.
