IMF reaches agreement with Egypt upon first review of $5.2 bln financing agreement

The International Monetary Fund logo. (Reuters)

The International Monetary Fund (IMF) said on Monday it had reached a staff-level agreement with Egypt after the first review of a $5.2 billion financing agreement.

For all the latest headlines follow our Google News channel online or via the app.

Upon the approval of the executive board, a $1.6 billion tranche will be disbursed, the statement said.

“The Egyptian economy performed better than expected despite the pandemic,” the IMF statement said.

Read more:

US Elections: IMF eyes relationship reset with biggest shareholder after Biden win

Coronavirus: IMF tells Britain to increase public investment and welfare support

Coronavirus: IMF urges MENA countries to face challenges by accelerating reforms

SHOW MORE
Last Update: Thursday, 19 November 2020 KSA 21:59 - GMT 18:59
Top