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flag IMF tentatively approves $1.2 billion loan for Egypt, contingent on economic reforms.

flag The International Monetary Fund (IMF) has tentatively approved a $1.2 billion loan for Egypt as part of its Extended Fund Facility program. flag This comes after Egypt agreed to implement economic reforms, including increasing its tax-to-GDP ratio by 2% over two years. flag The IMF praised Egypt's efforts to maintain macroeconomic stability but stressed the need for further reforms to enhance revenue mobilization, reduce debt, and support social spending. flag The final approval is subject to the IMF's Executive Board.

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