IMF approves $820 million as part of Egypt bailout

IMF approves $820 million as part of Egypt bailout

The International Monetary Fund announced on Friday the immediate disbursement of $820 million to the Egyptian government, part of an augmented plan to aid the nation's stumbling economy.
The IMF's Executive Board validated the payment as part of a $3 billion aid
program granted at the end of 2022.
The IMF action, repeatedly postponed and eagerly awaited by the Egyptian
government, arrives at a time of mounting difficulties for its economy.
The Board also approved a $5 billion extension announced at the beginning
of the month, bringing the Fund's total lending to Egypt to $8 billion.

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