The Executive Board of the International Monetary Fund (IMF) is set to convene on Wednesday, July 10th, to look into the third review under Egypt’s Extended Fund Facility (EFF) arrangement, as per the IMF's calendar.

In June, the IMF and Egypt reached a staff-level agreement on economic policies and reforms for the third EFF review, under which Egypt could access about $820 million.

On March 29th, the IMF’s Executive Board concluded the first and second reviews EFF deal with Egypt and approved an augmentation of the original loan program by $5 billion, as per the report.

Earlier this year, the IMF and Egyptian authorities had reached a significant agreement aimed at bolstering the country's economic outlook, extending IMF support to Egypt from $3 billion to $8 billion.

On December 16th, 2022, the IMF approved the 46-month EFF arrangement for Egypt.

 

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