Egypt IMF LoanDecember 2022
The board of the international monetary fund, IMF,approved a new 3 billion dollar loan to Egypt in the next four years and confirmed to advance additional finance of 14 billion dollar in future.
The new IMF loan to Egyptis the 4th in the last six years.
At present the Egyptian debt to various institutes is about 52 billion dollar, about half of the debt is to the IMF.
Egypt Currency DevaluationMarch 2016
The Egyptian central bank devaluated on March 14, 2016 the pound by nearly 13%, from previous 7.73 exchange rate to 8.95 per dollar, the highest devaluation in the last 13 years.
Egypt plans to increase its foreign currency reserves to & 25 billion by the end of 2016.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
Please read our terms of service before entering this site.