Books – Ahmed Yaqoub
Friday, March 29, 2024 10:01 AM
The Executive Board meets forInternational Monetary Fund Today, Friday, to discuss the first and second review of Egypt’s economic program.
On March 6, the International Monetary Fund announced that it had reached an agreement at the expert level with the Egyptian authorities regarding financing that would provide $8 billion, noting that all details related to the first and second review of Egypt’s program had been agreed upon.
The International Monetary Fund confirmed, in a press statement, that the agreement will be presented to the Executive Board of the Monetary Fund for approval, stressing that the IMF team has made excellent progress in constructive discussions with the Egyptian government regarding the first and second review of the economic reform program supported by the Fund.
The International Monetary Fund pointed to the importance of the flexible exchange rate mechanism, and it was agreed to increase social spending and support the most needy groups, stressing that discussions between the International Monetary Fund and the Egyptian government will continue during the next stage.
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