IMF, Egypt Reach Preliminary Deal Unlocking $1.6 Billion in Financing
Updated
Updated · Bloomberg · Jun 29
IMF, Egypt Reach Preliminary Deal Unlocking $1.6 Billion in Financing
2 articles · Updated · Bloomberg · Jun 29
Summary
$1.6 billion in IMF financing moved closer for Egypt after the fund and Cairo reached a staff-level agreement on the latest review of the country's program.
About $1.5 billion would come from the Extended Fund Facility, with roughly $136 million more available under the Resilience and Sustainability Facility once the review is completed.
The new payout would lift total disbursements under Egypt's IMF arrangements to about $7.2 billion, extending support under its existing programs.