IMF approves 3-bln-USD loan to Egypt

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IMF approves 3-bln-USD loan to Egypt

STORY: IMF approves 3-bln-USD loan to Egypt DATELINE: Dec. 18, 2022 LENGTH: 00:00:52 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the River Nile in Cairo 2. various of the Central Bank of Egypt 3. various of an accountant counting banknotes 4. various of national banks STORYLINE: The International Monetary Fund (IMF) said on Friday that its executive board had approved a loan to Egypt of about 3 billion U.S. dollars over 46 months. The decision enables an immediate disbursement of about 347 million dollars to Egypt, "which will help meet the balance of payments need and provide support to the budget," the IMF said in a statement, adding the loan package is expected to encourage Egypt's international and regional partners to provide an extra 14 billion dollars to finance the most populous Arab country. According to the IMF, the financial support was granted in exchange for an economic reform program from the Egyptian government. It hopes to pave the way for "sustainable, inclusive and p

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