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» » Egypt reaches a preliminary agreement with IMF for $12 billion loan

Egypt reaches a preliminary agreement with IMF for $12 billion loan

Egypt and the International Monetary Fund (IMF) reached a tentative agreement on a loan of $ 12 billion for over three years.Egypt and the International Monetary Fund (IMF) reached a tentative agreement on a loan of $ 12 billion for over three years.

Egypt and the International Monetary Fund (IMF) reached a tentative agreement on a loan of $ 12 billion for over three years.


This was reported on Thursday, Bloomberg reported citing a statement the IMF.

"This agreement must be approved by the executive board of the IMF, which is expected to consider the request of Egypt in the coming weeks", - Bloomberg quotes the IMF representative.

August 3 television channel Sky News Arabia reported that Egypt hopes to receive IMF loan of $ 12 billion.

In late July, the IMF spokesman William Murray said that the size of the loan fund should determine the special commission, which for two weeks to work in Egypt. He also noted that the Egyptian authorities have asked the Fund to provide financial assistance to their economic program.

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