Egypt Receives $3 Billion IMF Loan, Another $6 Billion Could Follow ...Egypt

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Egypt Receives $3 Billion IMF Loan, Another $6 Billion Could Follow
Image Credit: Egypt Independent As of 27 October 2022, the International Monetary Fund (IMF) and Egypt have reached an agreement for EGP 68 billion (USD 3 billion), according to an IMF press release. The loan comes in the form of a staff-level agreement to implement comprehensive economic policies and reforms for a 46-month period during Egypt’s ongoing economic struggles. The agreement “aims to safeguard macroeconomic stability and debt sustainability, improve Egypt’s resilience to external shocks, strengthen the social safety net, and step-up reforms that underpin higher private-sector-led growth and job creation,” according to the IMF’s press release. Another EGP 136.8 billion (USD 6 bill

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