IMF’s deal with Egypt catalyzes for $20bln economic support: Maait

The sum includes the IMF’s $8 billion loan package

Staff Writer, Arab Finance

March 10, 2024

PHOTO

Egypt’s recent agreement with the International Monetary Fund (IMF) is expected to trigger further foreign financing worth a total of $20 billion to back the country’s economy, Asharq Business reported, Minister of Finance Mohamed Maait.

The sum includes the IMF’s $8 billion loan package and $1.2 billion financing from the IMF’s Resilience and Sustainability Trust (RST), Maait said.

The remaining amount will be secured from the World Bank, the European Union (EU), Japan, and the UK, he added.

On March 6th, the IMF sealed the final $8 billion loan deal with Egypt to boost the country’s economy.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.