IMF Executive Board approves 46-month $3bn loan for Egypt

The Executive Board of the International Monetary Fund (IMF) approved a 46-month $3bn arrangement under the Extended Fund Facility (EFF) for Egypt. In a press statement, the IMF said the Executive Board’s decision enables an immediate disbursement of SDR million (equivalent to about ($347m), which will help meet the balance of payments needed and provide support to the budget. Egypt’s Only Independent Newspaper in English Follow us/ #Daily_News_Egypt #DNE #Egypt