Posted 3/7/2024, 8:59:00 PM
Egypt Secures $8 Billion IMF Loan and Aid to Boost Economy, Reforms
- Egypt secures expanded $8 billion IMF loan to boost economic stability and support reform agenda
- Additional $1.2 billion allotted for environmental sustainability from IMF facility
- Complemented by soft loans from World Bank and others to encourage investments
- Central Bank of Egypt announces interest rate hike and shift to market-based exchange rate
- Aims to accelerate disinflation and manage inflation expectations above target into late 2024
