مصر تسدد 306 ملايين دولار لـ«النقد الدولي»

Egypt repaid $306 million of its loans from the International Monetary Fund during the first week of August, and the country is required to repay another $395 million in September.

According to announcements from the government and the Fund, the fourth and fifth reviews are likely to be completed in the upcoming fall.

Earlier, Mohamed Maait, the representative of the Arab Group and the Maldives at the International Monetary Fund, estimated that Egypt would spend about $1.2 billion for each review.

In its latest report on the fourth review of Egypt's program, the International Monetary Fund stated: "Egypt has made uneven progress in the structural reforms outlined in the $8 billion extended loan agreement." It noted that the continued dominance of the public sector in the economy poses a problem.

The Fund mentioned that progress has been limited in reducing the role of state-owned enterprises.

The report was published late, four months after the Fund's Board of Directors approved the review and released a payment of $1.2 billion. The total payments Egypt has received so far amount to approximately $3.5 billion.

Egyptian Prime Minister Mostafa Madbouly had previously announced the amount of debt that his country repaid during 2024. A statement from the Cabinet indicated that Madbouly said: "We repaid $7 billion of due debts in November and December of last year, and the total amount repaid in 2024 has reached $38.7 billion."

Madbouly pointed out that the amount Egypt will pay in debts next year will be less than what was repaid this year.

Madbouly's statements came a day after the International Monetary Fund announced that it had reached an agreement with Egypt allowing it to receive a tranche of $1.2 billion.