The Executive Board of the International Monetary Fund has approved a $3 billion loan to Egypt on the condition that the first installment of the $750 million loan is disbursed within a few days.

The most important provisions of the decision are as follows:

– Approval of a $3 billion loan to Egypt.

The duration of the program is 46 months.

The first tranche (immediate payment) in the amount of $347 million.

The fund will raise an additional $14 billion in funding from Egypt’s international and regional partners, especially from the Gulf states.

The package includes a permanent transition to a flexible exchange rate system to increase resilience to external shocks.

Monetary policy is aimed at gradually reducing inflation.

Financial consolidation and debt management to provide a way to reduce public debt.

Large-scale structural reforms.

Source: Egyptian Week.

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Robin Jackson is the editor-in-chief at 24PalNews. As an editor and author who covers business and finance, Robin shares the latest business news, trends, and insights with his extensive audience.

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