The IMF has reached a “staff-level agreement on comprehensive economic policies and reforms” with Egyptian authorities for a 46 month, $3bn loan through its Extended Fund Facility (EFF) Arrangement, the fund announced on 27 October.

The IMF says it expects additional financing of around $5bn from multilateral and regional partners for the current financial year which runs until July 2023. “Egypt’s international and regional partners will play a critical role in facilitating the implementation of the authorities’ policies and reforms,” the IMF says. (CONTINUED - 690 WORDS)