Egypt is poised to receive around $1.6 billion from the International Monetary Fund (IMF), subject to the completion of key reviews of its program and ongoing structural reforms, the IMF said on Monday, June 29.
The disbursement is contingent on the completion of the seventh review of the Extended Fund Facility (EFF) program and the second review of the Resilience and Sustainability Fund (RSF).
The Bretton Woods institution noted that discussions with Egyptian authorities are progressing, particularly on strengthening revenue mobilization, broadening the tax base, and improving the efficiency of the tax system.
The fund is also continuing discussions on the implementation of state ownership policy and asset divestment program, as part of efforts to reduce the role of the public sector and support the private sector.
An IMF mission had visited Cairo in May as part of the EFF program review, a prerequisite for disbursements.
