Home / Business / IMF to okay second loan to Egypt
International Monetary Fund

IMF to okay second loan to Egypt

International Monetary Fund Managing Director Christine Lagarde said on Friday that she will recommend that the Fund’s executive board approve a fourth review of Egypt’s $12 billion loan program, a move expected to unlock a $2 billion disbursement.

Lagarde said in a statement that the board will meet in coming weeks to discuss the review. She commended Egyptian authorities for reforms that have put the country’s budget deficit on a declining trajectory, and that have helped to reduce its unemployment rate to 10 percent, the lowest since 2011.

Source: Reuters

Check Also

‘Station Eleven’: Mackenzie Davis Showing the Theatrical Way to a Vaccine Free Future – PART II

By Emad El-Din Aysha, PhD The Person is the Politics Well, that’s enough of that. …

Leave a Reply

Your email address will not be published. Required fields are marked *