Search

Egypt secures Expanded $8 Billion IMF agreement

  • Egypt and the IMF expand their loan program by $5 billion, totaling $8 billion in support.
  • Central bank allows the Egyptian pound to float freely and hikes interest rates by 600 basis points.

 

Egypt reached an expanded deal with the International Monetary Fund on Wednesday, securing an additional $5 billion to increase its current loan program to $8 billion.

You need an active subscription to continue reading this article.

Recent Business

breaking_news
Rwanda Inflation Slows, but Conflict in Congo Poses Economic Risks
Read More »
breaking_news
Egypt’s Inflation Cools for Third Consecutive Month
Read More »
Cellphone with webpage of African bank Ecobank Transnational Inc. on screen in front of business logo. Focus on center of phone display
Ecobank Partners With XTransfer to Enable African Businesses to Pay for Chinese Imports in Local Currency
Read More »

Recent Politics

generic-1-1024x683
Ghana Names Asiamah as Central Bank Governor as Addison Retires
Read More »
breaking_news
ECOWAS to Maintain Trade Ties with Burkina Faso, Mali, and Niger
Read More »
Ethiopia, Tigray Valley, day life
Cash Withdrawals Surge in Tigray Amid Instability Fears
Read More »

Latest Posts

Latest news insights