Shafaqna English– Egypt is relying on the release of fresh financial support from the International Monetary Fund to protect its economy from the worsening regional unrest, following the IMF Executive Board’s approval of approximately $1.8 billion in new access.
The IMF said in a statement that Egypt is set to obtain about $1.5 billion from its 48-month loan facility after the seventh review, plus nearly $272 million from the Resilience and Sustainability Facility. This will bring the overall disbursements under Egypt’s current program with the fund to around $7.3 billion.
Source: Aawsat