Egypt announces a loan from the International Monetary Fund

Egyptian Prime Minister Mostafa Madbouly announced that Egypt has officially received a new loan from the International Monetary Fund.

According to the IMF, the cost of the loan will be $3 billion for a period of 6 months, since Egypt will receive the loan within 6 months.

Madbouli added that the agreement aims to protect the stability of the Egyptian economy, protect against external shocks and provide jobs through the private sector.

He pointed out that among the recommendations of the economic conference is the acceleration of coordination with the International Monetary Fund.

Evan Holler, head of the International Fund’s mission in Egypt, announced a 6-month agreement, stating that it will cost $3 billion, to support the Egyptian economy in the face of the global economic crisis, noting that this agreement will be considered. IMF soon.

She added that there would be structural adjustments to the local economy in light of international challenges.

Source: Egyptian media.

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