Egypt Has Repaid USD 10 Billion to IMF Since 2016

Egypt has paid more than USD 10 billion to the International Monetary Fund (IMF), excluding interest, since it began receiving funding from the institution in 2016. The announcement was made by Mohamed Maait, the Executive Director representing the Arab Group at the IMF, in a press statement in Washington.

The country has received a total of USD 28 billion in IMF support through three separate cooperation programs since November 3rd, 2016. The current USD 8 billion program is scheduled to continue through December 2026, although Egypt has so far received less than half of the total amount.

Despite regional tensions and a sharp decline in Suez Canal revenues, Egypt has repaid a significant portion of its loans while boosting its foreign reserves to USD 47.4 billion. Foreign direct investment reached about USD 46 billion in 2024, supported by recent policy changes such as exchange rate unification and tax incentives.

The IMF’s Executive Board recently approved a USD 1.3 billion financing agreement focused on climate-related reforms. The Central Bank of Egypt is also navigating interest rate decisions cautiously following a rate cut last month, the first in nearly five years, as inflation fell to 13.6%. The IMF is preparing its fifth review of Egypt’s program, with a USD 1.2 billion tranche expected afterward.