IMF approves $1.2 billion for Egypt

The International Monetary Fund (IMF) has approved disbursement of $1.2 billion to Egypt after completing the fourth review of the country's $8 billion economic reform programme.

The IMF's executive board also approved Egypt's request for an arrangement under the resilience and sustainability facility (RSF), with access to about $1.3 billion, the lender's statement added.

Cairo has requested financing under the RSF since 2022, with hopes it could unlock up to an additional $1 billion.