IMF Sends $820M to Egypt After Successful 3rd Loan Review ...Egypt

The International Monetary Fund’s (IMF) Executive Board approved the third review of Egypt’s Extended Fund Facility (EFF) arrangement on 29 July, enabling a disbursement of approximately USD 820 million (EGP 39.6 billion) to Egypt. “The Egyptian authorities’ recent efforts to restore macroeconomic stability have started to yield positive results. Inflation remains elevated but is coming down. A flexible exchange rate regime remains a cornerstone of the authorities’ program,” the organization explained. Recent data indicates a positive shift in economic conditions, including reduced inflationary pressures and the elimination of foreign exchange shortages. These developments have begun to rest

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