IMF Approves $8 Billion Egypt Loan as Global Bailout Takes Shape
Kristalina Georgieva, managing director of the IMF.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
The International Monetary Fund approved a $5 billion augmentation to its loan program for Egypt, part of a wave of global aid pledged to bolster a stumbling economy put under added pressure by the war in Gaza.
The executive board’s assent increases the Extended Fund Facility arrangement from the $3 billion originally approved in December 2022 to $8 billion. It will enable an immediate disbursement of about $820 million, the Washington-based lender said Friday in a statement.