Egyptian PM praises IMF review approval

Egyptian Prime Minister Mostafa Madbouly clarified that the International Monetary Fund's approval of the seventh review reflects the efforts of the Egyptian government and its measures in implementing the economic reform program. This approval came after Egypt achieved its financial targets, such as the primary surplus and reducing the budget deficit, in addition to the Fund’s commendation of the country's actions to address the impacts of regional conflict. The total amount of the loan approved by the Fund is approximately $7.2 billion, within a reform program through which Egypt will receive financing totaling up to $8 billion over 48 months.