UNITED STATES, WASHINGTON (VOP TODAY NEWS) — The International Monetary Fund (IMF) announced on Wednesday that the last tranche of about $ 2 billion had been disbursed from the loan granted to Egypt, following a new assessment that Cairo had achieved its “main objectives” under the economic reform program.
The International Foundation has started disbursing as much as $ 11.9 billion since November 2016, according to a statement by the IMF.
“The macroeconomic situation has clearly improved since 2016 thanks to the implementation by the authorities of its reform and decision-making program,” said IFAD’s Acting Director-General David Lipton.
While these “vital” reforms were seen as correcting external and internal imbalances and successfully reviving growth, he said public debt was “on a clear downward path”.
He said the medium term objective was to reduce inflation to one.
“The positive outlook opens on” an appropriate moment to push forward structural reforms to support more inclusive growth based on the private sector and job creation, “he said.
This article is written and prepared by our foreign editors writing for VOP from different countries around the world – edited and published by VOP staff in our newsroom.
Contact us: [email protected]
VOP Today News — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.
We are the Voice of People — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes VOP possible came from you.