Cairo – Masrawy:
Egypt secured a $3 billion loan on Friday, following approval by the Executive Board of the International Monetary Fund.
About six years ago, Egypt began cooperating with the International Monetary Fund, and these are the funds it has obtained since then:
Egypt took out a loan of around $12 billion in 2016
Egypt secured a loan through the rapid financing facility of $2.77 billion in 2020 to address the coronavirus crisis.
– Egypt secured a loan under the Standby Credit Program worth $5.2 billion in 2020.
Egypt secured a $3 billion loan in 2022.
In addition to these loans, Egypt obtained $2.8 billion last August in support of special drawing credits distributed by the Fund to member states to deal with the fallout from the Corona, which help support the Central Bank’s international reserves .
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