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Egypt to receive first tranche of expanded IMF loan next week

Egypt will receive the first tranche of an expanded loan agreement with the IMF next week, with $820 million being immediately released. The agreement expands a $3 billion, 46-month Extended Fund Facility that was put on hold after Egypt failed to follow through on reforms. The IMF widened the agreement due to the negative impact of the Gaza crisis on Egypt's economy.

Original article source: https://www.dailymail.co.uk/wires/reuters/article-13255049/Egypt-receive-tranche-expanded-IMF-loan-week.html
Source Id: 8054976516

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