IMF reportedly increasing loan to Egypt to US$8 billion: TV host ...Egypt

EGYPT INDEPENDENT - Economy
IMF reportedly increasing loan to Egypt to US$8 billion: TV host
source : EGYPT INDEPENDENT ( Egypt ) () 46
Egyptian TV host Lamis al-Hadidi said on Tuesday during her show “Last Word” (Kalema Akhera) that there is upcoming news regarding the approaching agreement between Egypt and the International Monetary Fund (IMF) that will reportedly see the IMF increase its funding to Egypt. The IMF’s financing program will increase from three billion dollars to up to seven or eight billion, in addition to other financing. Hadidi noted that the fund agreement, additional financing and new deals are expected to enable the Central Bank of Egypt to take urgent action on the US dollar exchange rate. “No one knows when the exchange rate will be lowered, and the central bank needs $15 billion to pump into the mar

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