IMF approves $820 million disbursement to Egypt as part of an $8 billion loan program.

The International Monetary Fund (IMF) has approved $820 million disbursement to Egypt as part of an $8 billion loan program. Macroeconomic conditions in Egypt have improved since the program's first and second reviews in March with inflationary pressures diminishing, foreign exchange shortages resolved, and fiscal targets met. The IMF cautions that the regional environment remains challenging and domestic policy challenges require decisive action. The loan arrangement, which began in December 2022, is set to conclude in September 2026. This disbursement aims to help Egypt address the impact of regional tensions on its macroeconomy.

August 26, 2024
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