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IMF to fund Egypt with USD12b
(MENAFN) The International Monetary Fund (IMF) announced on Friday that it had reached an agreement with Egypt for a $12 billion three-year funding facility to support a government reform program.
IMF said Egypt's reform program aimed to improve foreign exchange markets and reduce the budget deficit.
Also, IMF said in a statement that the deal is subject to approval by the IMF executive committee which is expected to consider Egypt's request in the coming weeks.
IMF said Egypt's reform program aimed to improve foreign exchange markets and reduce the budget deficit.
Also, IMF said in a statement that the deal is subject to approval by the IMF executive committee which is expected to consider Egypt's request in the coming weeks.
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