IMF approves $5.2 bn, 1-year loan program for Egypt
WASHINGTON, June 27 (NNN-AGENCIES) — The IMF board on Friday approved a one-year, $5.2 billion financing package for Egypt to help the country alleviate the economic impact of the COVID-19 pandemic.
The new funding under a standby arrangement comes on top of $2.8 billion in emergency aid the IMF board approved a month ago, although at the time officials acknowledged that more help would be needed.
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