Egypt seeks $9billion in aid from IMF and other institutions

Egypt seeks $9billion in aid from IMF and other institutions

Egypt seeks $9billion in aid from IMF and other institutions

Egypt is seeking more than $5 billion from the International Monetary Fund under a stand-by arrangement and $4 billion from other institutions, an official said.

The borrowing would come in addition to the $2.8 billion received recently under the IMF’s emergency Rapid Financing Instrument, part of the North African nation’s plan to cover its funding gap.

For more information, please see https://www.aljazeera.com/ajimpact/egypt-seeks-9bn-aid-imf-institutions-200513164825333.html

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