Arab Finance: Egypt is currently in talks with the International Monetary Fund (IMF) to increase the value of the agreed-upon $3 billion loan program for the country to more than $5 billion, sources familiar with the matter told Asharq Business.
The sources noted that any increase would be announced after the completion of the country’s delayed review of its $3 billion loan program.
An IMF delegation is expected to visit Egypt by the end of October to conduct the two delayed reviews, the sources pointed out.
They added that Egypt’s monetary policy reforms would be carried out after the presidential elections in December.