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FINANCIAL NEWS
IMF Board votes on Egypt’s USD1.25bn second tranche loan
13 Jul 2017
(MENAFN) The Intl Monetary Fund’s (IMF) Executive Board aims to vote on the first review of Egypt”s economic reform program, in which Egypt will get USD1.25bn.
Moreover, the IMF group came to the country in order to review the reforms with the government in May, while the deal is subject to the approval of the IMF’s Board.
The country has confirmed with the IMF on an economic reform program that includes the liberalization of the Egyptian pound exchange rate.
Recently, Egypt has carried out a number of reforms concerning the energy subsidies system amid the past weeks, increasing fuel prices by 6-100 percent.
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MENAFN1307201700450000ID1095620157
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