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Egypt: IMF Loan Shows Confidence in Egyptian Economy CBE
Source: www.export-egypt.com 5/13/2017

Governor of the Central Bank of Egypt Tarek Amer said that the International Monetary Fund's approval to make available the second tranche of a $12 billion loan for Egypt shows the international confidence in the Egyptian economy after recent reform measures taken by the government.

In press statements, Amer said that the move will lead to an increase of the flow of foreign investments into Egypt, which will help boost the development process.

Adopting good financial and monetary policies and following scientific and practical measures will secure the nation against shocks and will put the Egyptian economy on the right track, he said.

The IMF lauded in a statement Egypt's economic reform program and hailed the country's draft budget for 2017/2018 as very strong.

It added that it reached a staff-level agreement on the first review of Egypt's economic reform program supported by the IMF’s $12 billion arrangement.



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