El-Sisi approves 50% increase in Egypt’s share of IMF

Arab Finance: Egyptian President Abdel Fattah El-Sisi has approved Law No. 247 of 2024, authorizing the increase of Egypt's share in the International Monetary Fund (IMF) by 50%, the official Gazette published on January 9^th.

The decree follows the provisions of Article 151 of the Egyptian Constitution, and it was granted after receiving approval from the Egyptian Cabinet.

The law specifies that the increase in Egypt's contribution to the IMF comes with a reservation.