IMF to discuss Egypt's $3B loan program tomorrow

Updated 1/9/2023 12:00:00 PM
IMF to discuss Egypt's $3B loan program tomorrow

Arab Finance: The International Monetary Fund (IMF) will hold a virtual press conference tomorrow, January 9th, to discuss Egypt's IMF-supported loan program, Akhbar El-Youm reported.

The program offers a comprehensive policies package to maintain economic stability and restore margins in Egypt.

The conference will be attended by Ivanna Vladkova Hollar, the IMF mission chief in Egypt, the Middle East, and Asia.

In mid-December 2022, the executive board of the IMF approved a 46-month arrangement worth about $3 billion under the Fund Facility Extended (EFF) to Egypt.

The IMF also predicted that the EFF would pave the way for additional facility worth approximately $14 billion to Egypt from its international and regional partners.

 

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