The International Monetary Fund and Egypt reached a preliminary agreement that should help unlock the next disbursement of the North African nation’s $8 billion loan.
The International Monetary Fund announced that its experts reached a preliminary agreement with Egypt, based on which Cairo will receive a loan of $820 million...
IMF experts and the Egyptian authorities have reached an expert-level agreement on a set of comprehensive policies and reforms needed to complete the third review within the framework of the “Extended Fund Facility” agreement. The International Monetary Fund (IMF) said in a statement that subject to the approval of the Fund's Executive Board, Egypt will be able to obtain about 820 million dollars (618.1 million Special Drawing Rights Units). [..…