$12bn loan to help Egypt 'reach its full potential'

23 August 2016

The IMF is on the brink of finalising a $12bn loan to Egypt that is tied to a series of financial, structural and social reforms aiming to help the North African country “reach its full potential”.

Funding will be used to improve the functioning of the foreign exchange markets, bring down the budget deficit and debt and free up money for infrastructure spending, the IMF said.

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