An International Monetary Fund (IMF) team led by Uma Ramakrishnan held a virtual meeting session with Egyptian officials from November 4 until November 15 to discuss economic developments and the first review for Egypt’s economic program supported by the IMF’s 12-month Stand-by Arrangement (SBA). The IMF approved in June a 12-month US$5.2 billion SBA loan for Egypt. The new arrangement aims to help Egypt bear the challenges bought on by the coronavirus pandemic through providing IMF resources to meet Egypt’s balance of payments needs and finance its budget deficit. “The IMF staff team and the Egyptian authorities have reached a staff-level agreement on the first review of Egypt’s economic pr
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