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FINANCIAL NEWS
Egypt to get extra USD6bn in bilateral funding
18 Oct 2016
(MENAFN) Egypt would gather an extra USD6bn in mutual funding required to secure USD12bn Intl’ Monetary Fund (IMF) loan amid one or two weeks.
The IMF agreed to grant the country USD12bn, 3 year loan facility to support a government reform program aimed at plugging a budget gap.
Accordingly, the country would also issue global bonds in the second half of Nov or the first week of Dec, while it approved a global bond issuance of USD3-5bn.
However, Egypt’s economy has been struggling since an uprising in 2011 led in political instability that drove away tourists and foreign investors.
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HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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