Egypt announced on Wednesday that it had signed an expanded loan program with the International Monetary Fund (IMF), increasing an existing loan program by USD 5 billion. The move came in conjunction with the Central Bank of Egypt’s (CBE) decision to allow the Egyptian pound to trade freely after months of tightly managed rates. The Egyptian Pound plummeted in value against the US Dollar by up to 60 percent following the CBE’s decision. The expansion builds upon a USD 3 billion, 46-month Extended Fund Facility program reached in December 2022 between Egypt and the IMF, which included provisions for a more flexible exchange rate. The program had faced delays due to Egypt maintaining a tight
Hence then, the article about egypt signs new expanded usd 8 million imf loan agreement was published today ( ) and is available onEgyptian Streets ( Egypt ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Egypt Signs New Expanded USD 8 Million IMF Loan Agreement )