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  • 01-11-18

    IMF, Egypt secure staff-level deal on USD2b funds

    (MENAFN) Egypt was announced to have secured a staff-level deal with the International Monetary Fund (IMF).

    The IMF, under the agreement, is to allocate an additional USD2 billion in funds for the Egyptian expanded fund facility pact valued at USD12 billion.

    In a statement, the IMF confirmed the funds to be pending the acceptance of its executive board.

    The IMF execute board is to be considering the approval for the fourth assessment of the programme between the two sides, which is set for three years.

    MENAFN0111201800450000ID1097646861

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