Egypt repaid $306 million of International Monetary Fund loans during the first week of August and is required to repay an additional $395 million in September. According to announcements from the government and the IMF, the fourth and fifth reviews are likely to be completed in the upcoming fall. Earlier, Mohamed Maait, the Arab and Maldives group representative at the IMF, estimated that Egypt would disburse about $1.2 billion per review. In its latest report on Egypt’s fourth program review, the IMF stated that Egypt has made uneven progress in structural reforms outlined in the $8 billion extended loan agreement, noting that the continued dominance of the public sector in the economy remains a challenge. The report was published late, four months after the IMF board approved the review and released a $1.2 billion tranche. Egypt has received a total of about $3.5 billion so far.

Egyptian Prime Minister Mostafa Madbouly previously announced the amount of debt repaid by the country during 2024. The cabinet statement quoted Madbouly saying: “We repaid $7 billion of due debts during November and December last year, and the total repaid during 2024 reached $38.7 billion.” Madbouly indicated that the amount Egypt will pay in debts next year will be less than what was repaid this year. His statements came a day after the IMF announced reaching an agreement with Egypt allowing it to receive a $1.2 billion tranche.