Egypt to Get First $820 Million of Expanded $8B IMF Loan Next Week Amid Economic Struggles

• Egypt to receive first installment of expanded $8 billion IMF loan next week • Loan increased from initial $3 billion agreed in December 2022 • Immediate disbursement of $820 million expected • Comes amid economic challenges partly due to spillovers from Gaza/Israel conflict • Follows 40% currency devaluation and $35 billion UAE investment deal