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IMF Releases Egypt Loan Details: An Investors’ Guide

  • ‘Signficant’ risks tempered by high-level backing, lender says
  • Growth this fiscal year to be ‘well below’ Egypt’s potential
Traffic drives along a bridge spanning the river Nile, in Cairo, Egypt.
Photographer: Shawn Baldwin/Bloomberg
Updated on

The International Monetary Fund released the details of the $12 billion loan it approved for Egypt in November, the Washington-based lender’s largest in the region.

Egyptian officials have said the loan adds credibility to its program to overhaul the economy, which has already included subsidy reductions, a currency float and higher interest rates. The government is currently marketing Eurobonds worth as much as $2.5 billion on a global roadshow that will help fund its spending plans.