Pharaohs' fairytale continues ⚽

Hey friends, welcome back to the Egypt Weekly Roundup.

Egypt’s World Cup fever is still in full swing after the Pharaohs made history by reaching the Round of 16 for the first time ever. And if football isn’t your thing, don’t worry — we’ve got plenty of other major stories from across Egypt to catch you up on.

Now, let’s dive in.

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• World Cup success continues ⚽

• Latest IMF loan review approved 💰

• Reviewing EU-Egypt relations 🇪🇺

FOOTBALL | 2026 WORLD CUP
EGYPT MAKE WORLD CUP HISTORY, REACH LAST 16 FOR THE FIRST TIME

Egypt have made history by reaching the FIFA World Cup Round of 16 for the first time after defeating Australia on penalties in a dramatic knockout clash. After a tightly contested match ended level following extra time, the Pharaohs held their nerve in the penalty shootout to eliminate Australia and book a place in the last 16.

A historic milestone: The victory marks Egypt’s best-ever run at a FIFA World Cup, surpassing all previous campaigns and securing the nation’s first appearance in the knockout stage. Beyond reaching uncharted territory at the World Cup, the result cements the Pharaohs’ place among the tournament’s surprise stories and gives millions of Egyptians a moment to celebrate on football’s biggest stage

Story’s not over: The Pharaohs have impressed throughout the tournament, opening with a hard-fought draw against Belgium before producing another disciplined display to overcome Australia under immense pressure. With momentum firmly on their side, Egypt will now prepare for the Round of 16, where they will look to extend their dream run against the reigning champions Argentina.

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IMF | LOAN
ONE STEP CLOSER TO $1.6 BLN IMF PAYOUT AFTER REVIEW SUCCESS

Egypt reached a staff-level agreement with the International Monetary Fund (IMF) on the latest review of its USD 8 billion loan program, bringing the country one step closer to receiving USD 1.6 billion in fresh financing.

The agreement covers the seventh review of Egypt’s Extended Fund Facility (EFF) and the second review of the Resilience and Sustainability Facility (RSF). Once approved by the IMF’s Executive Board, Egypt will receive USD 1.5 billion under the EFF and around USD 136 million under the RSF.

IMF backs Egypt’s efforts: The IMF praised Egypt’s handling of the economic fallout from the regional conflict, citing timely policy measures including fuel and electricity price reforms, tighter public spending, and a flexible exchange rate that helped absorb external shocks.

Reforms still needed: While acknowledging recent progress, the Fund stressed that Egypt must continue improving the business environment, accelerate privatization, and create a more level playing field to support private sector-led growth.

What comes next: The IMF’s Executive Board is expected to consider the agreement later this summer. If approved, total disbursements under the program will rise to roughly USD 7.2 billion, with the eighth and final review scheduled before the end of 2026.

EGYPT-EU | DIPLOMACY
EGYPT, EU REVIEW STRATEGIC PARTNERSHIP AS REGIONAL TENSIONS DOMINATE TALKS

Egypt and the European Union have reaffirmed their commitment to deepening their strategic partnership, with talks focusing on stronger economic cooperation and coordinated responses to the Middle East’s ongoing crises.

Top-level meeting: Foreign Minister Badr Abdelatty met with European Commissioner for the Mediterranean Dubravka Šuica to review progress on the Egypt-EU Comprehensive Strategic and Partnership Agreement and discuss the latest regional developments. The discussions emphasized expanding cooperation in trade, investment, education, scientific research, and skills development, while Egypt welcomed continued EU support for its economic reform program and financial stability.

Regional coordination: The two sides also exchanged views on the latest US-Iran negotiations, the war in Gaza, and developments in Lebanon, Libya, and Sudan. Egypt stressed the importance of building on recent diplomatic momentum to promote regional de-escalation and safeguard freedom of navigation. Abdelatty also welcomed the launch of the EU’s Mediterranean Pact, calling for a long-term partnership on migration, development, and regional cooperation based on shared responsibility and mutual respect.