Official IMF press release or statement

U.S. Approves $5.4 Billion Military Sale to Egypt, Including 555 Abrams Tanks and 2,183 Hellfire Missiles

Dec 24, 2024, 04:01 PM

The U.S. State Department has approved a military sales agreement to Egypt, valued at approximately $5.4 billion. This deal includes the modernization of 555 M1A1 Abrams tanks to the M1A1SA configuration and the provision of various weapon systems. Notably, the package features 2,183 AGM-114R Hellfire missiles, valued at $630 million, and 759 precision-guided munitions worth $30 million. The sales agreement underscores Egypt's long-standing status as one of the largest purchasers of American military equipment since 1979. These developments occur alongside Egypt's ongoing negotiations with the International Monetary Fund (IMF), which recently reached a staff-level agreement for a fourth review of an extended fund facility, allowing Egypt access to approximately $1.2 billion.