Egypt Secures Increased IMF Loan of USD 5 Billion to Bolster Economic Stability ...Egypt

The International Monetary Fund (IMF) has announced on Saturday its approval of a significant increase in the loan program provided to Egypt, amounting to approximately USD 5 billion (EGP 236 billion) The loan program, initially set at USD 3 billion (EGP 142 billion) for 46 months, aims to bolster Egypt’s economic stability and will enable Egypt to immediately withdraw around USD 820 million (EGP 38 billion) from the IMF.  To address the issue of non-targeted fuel subsidies, which consume a significant portion of government expenditures, Egypt has raised prices on a wide range of fuel products.  The IMF stresses the importance of replacing these subsidies with targeted social spending as par

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