Egypt in Negotiation with the IMF for Further Financial Support

Egypt is negotiating a second package of financial assistance with the International Monetary Fund (IMF), after the Executive Board of the IMF approved approximately USD 2.8 billion in emergency funding for Egypt earlier this week, according to Rami Aboul Naga, the Deputy Governor of the Central Bank of Egypt (CBE).

Aboul Naga stated that talks on the USD 6 billion funding program anticipated from the IMF have not yet concluded, whilst adding that the sum negotiated will depend on the final nature of the programs targeted from this funding.

The Deputy Governor clarified that the first component of the financing plan negotiated by Egypt with the IMF is the fast financing instrument am...