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Bond Market News
IMF Backs $2.5bn Financing for Egypt
March 13, 2025
The IMF has approved $2.5bn in financing for Egypt, of which $1.2bn will be disbursed immediately as part of the latest tranche of Egypt’s current $8bn program. The IMF also said it agreed to provide $1.3bn of new financing via a “Resilience and Sustainability Facility”. The funding will be disbursed in tranches and used to address challenges related to climate change. Egypt has had improved finances, having been upgraded by Fitch in November. However, the IMF cited that the risks are yet to be fully addressed, as regional conflicts and trade disruptions could further strain fiscal revenue, foreign direct investment and external stability.
Egypt’s dollar bonds were also trading in the green with its 5.875% 2031s at 83.5, yielding 9.6%.
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