The International Monetary Fund agrees to grant Egypt a loan of $3 billion

The International Monetary Fund announced, in a meeting of the Executive Board, its approval to grant Egypt a loan of $3 billion for a period of 46 months.

It is worth noting that, on October 27, it was announced that Egypt had reached an expert-level agreement with the International Monetary Fund regarding the comprehensive, 4-year Egyptian national economic reform program.

The agreement allows the International Monetary Fund to provide assistance and support by offering an extended credit facility of $3 billion.

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