The IMF approved a $5bn increase to Egypt's $3bn loan program, raising the total to $8bn.
The International Monetary Fund (IMF) approved a $5 billion increase to Egypt's existing $3 billion loan program, bringing the total to $8 billion. This will allow Egypt to draw $820 million immediately, and follows the completion of the first and second reviews of the Extended Fund Facility arrangement. The IMF emphasized that the implementation of economic policies under the program is critical to address Egypt's macroeconomic challenges.
March 29, 2024
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