IMF approves release of $1.67 billion in aid to Egypt ...Kuwait

The IMF's board approved the release of a second tranche of aid valued at $1.67 billion for Egypt.The board of the International Monetary Fund on Friday approved the release of a second tranche of aid valued at $1.67 billion for Egypt, saying public debt and Covid-19 threatened its economic recovery. In June, the board approved a one-year, $5.2 billion financing package for Egypt. With the latest disbursement, more than $3.6 billion will have been released. "The Egyptian authorities have managed well the Covid-19 pandemic and the related disruption to economic activity," Antoinette Sayeh, the IMF deputy managing director, said. "There are still risks to the outlook particularly as a second

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