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Bond Market News
Egypt Receives $2.3bn Funding Boost from the IMF
February 27, 2026
Egypt secured ~$2.3bn in new financing after completing the fifth and sixth reviews of its IMF program. The approvals allow the government to immediately draw roughly $2bn under the Extended Fund Facility (EFF), while a further $273mn becomes available through the Resilience and Sustainability Facility. The disbursement supports Egyptian markets which recently came under pressure from fears of a potential US–Iran conflict. The IMF said that macroeconomic stabilization was improving but warned about uneven structural reforms. Progress in privatizing assets has lagged expectations, while high public debt and large financing needs continue to constrain fiscal flexibility and medium-term growth, they noted. Egypt’s 46-month IMF program, expanded to $8bn in 2024, formed part of a broader $57bn international support package that also included major investment from the UAE. The IMF had delayed earlier reviews until authorities advanced privatization efforts. However, a tourism investment deal and a $3.5bn deposit from Qatar helped move the process forward. Egypt liberalized the exchange rate and shifted toward inflation targeting following a roughly 40% devaluation two years ago. However, risks remain from regional tensions and potential renewed Red Sea shipping disruptions, which previously reduced Suez Canal revenues.
Egypt’s bonds traded with a negative bias. For instance, it’s 8.7% 2049s were down 0.3 points to 98.1, yielding 8.9%
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