Cairo: The International Monetary Fund (IMF) has scheduled its executive board meeting to discuss and approve the fourth review of the current Extended Fund Facility (EFF) deal on March 10. According to the fund’s official website, this action follows nearly two and a half months after reaching a staff-level agreement regarding the review.

According to State Information Service Egypt, on December 25, the IMF’s mission to Egypt announced that it had reached a staff-level agreement with Egypt on the fourth review of the $8 billion EFF loan programme. Since then, no further developments have been announced regarding the review except statements from the fund and the Egyptian government that the review will be completed soon.

Once the IMF’s Executive Board approves the fourth review, Egypt is set to receive a $1.2 billion tranche. This review marks the first since the fund responded to the Egyptian government’s request to increase the loan amount from $3 billion to $8 billion, amid geopolitical tensions in the region and their economic implications.

The Egyptian authorities have continued implementing key policies to preserve macroeconomic stability, despite ongoing regional tensions that have caused a decline in Suez Canal receipts, as noted by Ivanna Vladkova Hollar, the IMF’s Mission Chief to Egypt, after reaching the staff-level agreement in December.

Additionally, the Egyptian government has listed 10 state- and military-owned companies to be part of the country’s initial public offering (IPO) programme in 2025. Four of these companies are expected to go public during the first half of 2025. Accelerating Egypt’s divestment plan is a critical measure under the IMF loan deal, particularly under the fourth review.