Books – Ahmed Yaqoub
Friday, March 29, 2024 11:50 PM
The Executive Board of the International Monetary Fund recently completed the first and second reviews of the Egyptian financing program and raised the value of the loan from $3 billion to $8 billion.
And he said International Monetary Fund In a press release, the completion of the discussion of the first and second review of Egypt’s economic program allows for the disbursement of $820 million of the total financing value.
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 out the importance of the flexible exchange rate mechanism, and it was agreed to increase social spending and support the neediest groups, stressing that discussions between the International Monetary Fund and the Egyptian government will continue during the next stage.
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