Egypt Reaches Initial IMF Accord on $12 Billion Program

Updated on
  • IMF announces three-year extended fund facility in Cairo
  • Government’s economic program includes VAT and spending cuts

Egypt and IMF Reach Initial $12 Billion Deal

Egypt reached an initial agreement with the International Monetary Fund over a $12 billion package designed to restore the confidence of foreign investors and ease a crippling dollar shortage hampering economic growth.

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