Egypt is set to receive a total of $2.2bn under financing agreements from the IMF and the European Union by the end of the 2024-25 financial year on 30 June. Cairo hopes the fresh cash will shore up an economy reeling from regional repercussions, including record low Suez Canal revenues.
On 24 December, the IMF said it had reached a staff-level agreement with Egypt on the delayed fourth review of its Extended Fund Facility arrangement, unlocking a $1.2bn tranche of the $8bn bailout loan agreed in March last year (MEES, 8 March 2024). (CONTINUED - 770 WORDS)
