According to a press conference held by Egyptian Prime Minister Mustafa Madbouly and Celine Aller, the International Monetary Fund and Egypt reached an agreement at the level of experts for a six-month reform programme costing $3 billion.
At the same conference, Egypt’s Finance Minister Mohamed Moait said that the country will get $9 billion in funding, including assistance from the IMF and other foreign partners.
The IMF loan, according to Moait, will be for $3 billion.
He clarified that the monies total $5 billion from overseas partners and $1 billion from the sustainability fund.
Egypt receives a finance package that includes a money fund loan for $ 9 billion.
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