Egypt and IMF reach funding agreement
The International Monetary Fund (IMF) has reached an agreement with Egypt that includes disbursing approximately $1.5 billion under the Extended Fund Facility, in addition to $136 million to support environmental transition and climate change initiatives. This brings the total funded amount to around $7.2 billion. This agreement is part of a financing program totaling $8 billion aimed at helping Egypt address foreign currency shortages and inflation, while economic activity continues to improve, with projections of a 5.2% GDP growth during the first nine months of the fiscal year. The IMF also emphasized the importance of implementing structural reforms, including the government asset privatization program, to continue supporting growth led by the private sector.
Notice: This Is an AI-Generated Summary
Comments (0)