IMF Executive Board Completes the Third Review of the Extended Arrangement Under the Extended Fund Facility for Egypt

The IMF Executive Board completed the third review under the Extended Arrangement under the Extended Fund Facility (EFF) for Egypt, allowing the authorities to draw the equivalent of about US$820 million (SDR 618.1 million).

The Egyptian authorities’ recent efforts to restore macroeconomic stability have started to yield positive results. Inflation remains elevated but is coming down. A flexible exchange rate regime remains a cornerstone of the authorities’ program.

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