{"id":1213,"date":"2022-10-27T16:27:38","date_gmt":"2022-10-27T16:27:38","guid":{"rendered":"https:\/\/africaparrot.com\/?p=1213"},"modified":"2022-10-27T16:36:01","modified_gmt":"2022-10-27T16:36:01","slug":"1213","status":"publish","type":"post","link":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/","title":{"rendered":"IMF, Egypt reach $3 bln loan agreement"},"content":{"rendered":"\n<p>The International Monetary Fund (IMF) has said on Thursday it had agreed a $3 billion Extended Fund Facility (EFF) over 46 months with Egypt, welcoming a move to \u201cdurable exchange rate flexibility\u201d regime and commitments to boosting social protections.<\/p><div class=\"afric-content\" id=\"afric-551278540\"><a href=\"https:\/\/www.schools.nyc.gov\/hello?utm_source=ecm-digital&#038;utm_medium=cpc&#038;utm_campaign=lac-dex-2026&#038;utm_content=french\" aria-label=\"French&#8212;300&#215;250\"><img src=\"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2026\/01\/French-300x250-1.gif?fit=300%2C250&#038;ssl=1\" alt=\"\"  class=\"no-lazyload\" width=\"300\" height=\"250\"   \/><\/a><\/div>\n\n\n\n<p>Egypt\u2019s currency fell by about 13.5 percent to a record low against the dollar on Thursday, Refinitiv data showed, after the central bank said it had moved to the new regime in advance of the deal\u2019s announcement and raised interest rates by 200 basis points.<\/p>\n\n\n\n<p>The arrangement is expected to \u201ccatalyze a large multi-year financing package,\u201d including about $5 billion in the financial year-ending in June 2023, reflecting broad international and regional support for Egypt, the IMF said in a statement. It also said there were discussions for an additional $1 billion from the fund\u2019s Resilience and Sustainability Facility.<\/p>\n\n\n\n<p>The Egyptian government\u2019s fiscal policy under the EFF would be anchored to the reduction of general government debt and gross financing needs, the statement said.<\/p>\n\n\n\n<p>\u201cThe commitment to durable exchange rate flexibility going forward will be a cornerstone policy for rebuilding and safeguarding Egypt\u2019s external resilience over the long term,\u201d the IMF said.<\/p>\n\n\n\n<p>It welcomed recent actions by Egypt to expand targeted social protection and phase out the mandatory use of letters of credit for imports.<\/p>\n\n\n\n<p>Egypt began seeking a new IMF loan after Russia\u2019s war in Ukraine pushed up its bills for wheat and oil while dealing a blow to tourism from two of its largest markets, Ukraine and Russia, a key source of hard currency.<\/p>\n\n\n\n<p>On Wednesday, the government extended the disbursement of a 100-300 Egyptian pounds ($4.42-13.25) bonus to the food subsidy cards used by about 10.5 million families for six more months to allow beneficiaries to cope with rising food prices, officials said.<\/p>\n\n\n\n<p>\u201cThe program will include policies to unleash private sector growth including by reducing the state footprint, adopting a more robust competition framework, enhancing transparency, and ensuring improved trade facilitation,\u201d the IMF said.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) has said on Thursday it had agreed a $3 billion Extended Fund Facility (EFF) over 46 months with Egypt, welcoming a move to \u201cdurable exchange rate flexibility\u201d regime and commitments to boosting social protections. Egypt\u2019s currency fell by about 13.5 percent to a record low against the dollar on Thursday, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1215,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IMF, Egypt reach $3 bln loan agreement - Africa Parrot<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF, Egypt reach $3 bln loan agreement - Africa Parrot\" \/>\n<meta property=\"og:description\" content=\"The International Monetary Fund (IMF) has said on Thursday it had agreed a $3 billion Extended Fund Facility (EFF) over 46 months with Egypt, welcoming a move to \u201cdurable exchange rate flexibility\u201d regime and commitments to boosting social protections. Egypt\u2019s currency fell by about 13.5 percent to a record low against the dollar on Thursday, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/\" \/>\n<meta property=\"og:site_name\" content=\"Africa Parrot\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-27T16:27:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-27T16:36:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/africaparrot.com\/wp-content\/uploads\/2022\/10\/images-5-2.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"275\" \/>\n\t<meta property=\"og:image:height\" content=\"183\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/\"},\"author\":{\"name\":\"News\",\"@id\":\"https:\/\/africaparrot.com\/#\/schema\/person\/411af76ae5ccfbde12943371024c86d8\"},\"headline\":\"IMF, Egypt reach $3 bln loan agreement\",\"datePublished\":\"2022-10-27T16:27:38+00:00\",\"dateModified\":\"2022-10-27T16:36:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/\"},\"wordCount\":331,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/africaparrot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2022\/10\/images-5-2.jpeg?fit=275%2C183&ssl=1\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/\",\"url\":\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/\",\"name\":\"IMF, Egypt reach $3 bln loan agreement - Africa Parrot\",\"isPartOf\":{\"@id\":\"https:\/\/africaparrot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2022\/10\/images-5-2.jpeg?fit=275%2C183&ssl=1\",\"datePublished\":\"2022-10-27T16:27:38+00:00\",\"dateModified\":\"2022-10-27T16:36:01+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2022\/10\/images-5-2.jpeg?fit=275%2C183&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2022\/10\/images-5-2.jpeg?fit=275%2C183&ssl=1\",\"width\":275,\"height\":183},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/africaparrot.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"IMF, Egypt reach $3 bln loan agreement\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/africaparrot.com\/#website\",\"url\":\"https:\/\/africaparrot.com\/\",\"name\":\"Africa Parrot\",\"description\":\"Fact-Checked News Focus on Africa &amp; Africans\",\"publisher\":{\"@id\":\"https:\/\/africaparrot.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/africaparrot.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/africaparrot.com\/#organization\",\"name\":\"Africa Parrot\",\"url\":\"https:\/\/africaparrot.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/africaparrot.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2023\/10\/cropped-Untitled_logo_19_basic-bg-file.jpg?fit=2000%2C314&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2023\/10\/cropped-Untitled_logo_19_basic-bg-file.jpg?fit=2000%2C314&ssl=1\",\"width\":2000,\"height\":314,\"caption\":\"Africa Parrot\"},\"image\":{\"@id\":\"https:\/\/africaparrot.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/africaparrot.com\/#\/schema\/person\/411af76ae5ccfbde12943371024c86d8\",\"name\":\"News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/africaparrot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/africaparrot.com\/wp-content\/litespeed\/avatar\/3840d6f3c81b5f5ef41fa1f8c6ee30fd.jpg?ver=1775626325\",\"contentUrl\":\"https:\/\/africaparrot.com\/wp-content\/litespeed\/avatar\/3840d6f3c81b5f5ef41fa1f8c6ee30fd.jpg?ver=1775626325\",\"caption\":\"News\"},\"sameAs\":[\"http:\/\/africaparrot.com\"],\"url\":\"https:\/\/africaparrot.com\/index.php\/author\/global-news\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"IMF, Egypt reach $3 bln loan agreement - Africa Parrot","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/","og_locale":"en_US","og_type":"article","og_title":"IMF, Egypt reach $3 bln loan agreement - Africa Parrot","og_description":"The International Monetary Fund (IMF) has said on Thursday it had agreed a $3 billion Extended Fund Facility (EFF) over 46 months with Egypt, welcoming a move to \u201cdurable exchange rate flexibility\u201d regime and commitments to boosting social protections. Egypt\u2019s currency fell by about 13.5 percent to a record low against the dollar on Thursday, [&hellip;]","og_url":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/","og_site_name":"Africa Parrot","article_published_time":"2022-10-27T16:27:38+00:00","article_modified_time":"2022-10-27T16:36:01+00:00","og_image":[{"width":275,"height":183,"url":"https:\/\/africaparrot.com\/wp-content\/uploads\/2022\/10\/images-5-2.jpeg","type":"image\/jpeg"}],"author":"News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#article","isPartOf":{"@id":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/"},"author":{"name":"News","@id":"https:\/\/africaparrot.com\/#\/schema\/person\/411af76ae5ccfbde12943371024c86d8"},"headline":"IMF, Egypt reach $3 bln loan agreement","datePublished":"2022-10-27T16:27:38+00:00","dateModified":"2022-10-27T16:36:01+00:00","mainEntityOfPage":{"@id":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/"},"wordCount":331,"commentCount":0,"publisher":{"@id":"https:\/\/africaparrot.com\/#organization"},"image":{"@id":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2022\/10\/images-5-2.jpeg?fit=275%2C183&ssl=1","inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/","url":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/","name":"IMF, Egypt reach $3 bln loan agreement - Africa Parrot","isPartOf":{"@id":"https:\/\/africaparrot.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#primaryimage"},"image":{"@id":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2022\/10\/images-5-2.jpeg?fit=275%2C183&ssl=1","datePublished":"2022-10-27T16:27:38+00:00","dateModified":"2022-10-27T16:36:01+00:00","breadcrumb":{"@id":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#primaryimage","url":"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2022\/10\/images-5-2.jpeg?fit=275%2C183&ssl=1","contentUrl":"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2022\/10\/images-5-2.jpeg?fit=275%2C183&ssl=1","width":275,"height":183},{"@type":"BreadcrumbList","@id":"https:\/\/africaparrot.com\/index.php\/2022\/10\/27\/1213\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/africaparrot.com\/"},{"@type":"ListItem","position":2,"name":"IMF, Egypt reach $3 bln loan agreement"}]},{"@type":"WebSite","@id":"https:\/\/africaparrot.com\/#website","url":"https:\/\/africaparrot.com\/","name":"Africa Parrot","description":"Fact-Checked News Focus on Africa &amp; Africans","publisher":{"@id":"https:\/\/africaparrot.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/africaparrot.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/africaparrot.com\/#organization","name":"Africa Parrot","url":"https:\/\/africaparrot.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/africaparrot.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2023\/10\/cropped-Untitled_logo_19_basic-bg-file.jpg?fit=2000%2C314&ssl=1","contentUrl":"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2023\/10\/cropped-Untitled_logo_19_basic-bg-file.jpg?fit=2000%2C314&ssl=1","width":2000,"height":314,"caption":"Africa Parrot"},"image":{"@id":"https:\/\/africaparrot.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/africaparrot.com\/#\/schema\/person\/411af76ae5ccfbde12943371024c86d8","name":"News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/africaparrot.com\/#\/schema\/person\/image\/","url":"https:\/\/africaparrot.com\/wp-content\/litespeed\/avatar\/3840d6f3c81b5f5ef41fa1f8c6ee30fd.jpg?ver=1775626325","contentUrl":"https:\/\/africaparrot.com\/wp-content\/litespeed\/avatar\/3840d6f3c81b5f5ef41fa1f8c6ee30fd.jpg?ver=1775626325","caption":"News"},"sameAs":["http:\/\/africaparrot.com"],"url":"https:\/\/africaparrot.com\/index.php\/author\/global-news\/"}]}},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/africaparrot.com\/wp-content\/uploads\/2022\/10\/images-5-2.jpeg?fit=275%2C183&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/africaparrot.com\/index.php\/wp-json\/wp\/v2\/posts\/1213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/africaparrot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/africaparrot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/africaparrot.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/africaparrot.com\/index.php\/wp-json\/wp\/v2\/comments?post=1213"}],"version-history":[{"count":2,"href":"https:\/\/africaparrot.com\/index.php\/wp-json\/wp\/v2\/posts\/1213\/revisions"}],"predecessor-version":[{"id":1216,"href":"https:\/\/africaparrot.com\/index.php\/wp-json\/wp\/v2\/posts\/1213\/revisions\/1216"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/africaparrot.com\/index.php\/wp-json\/wp\/v2\/media\/1215"}],"wp:attachment":[{"href":"https:\/\/africaparrot.com\/index.php\/wp-json\/wp\/v2\/media?parent=1213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/africaparrot.com\/index.php\/wp-json\/wp\/v2\/categories?post=1213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/africaparrot.com\/index.php\/wp-json\/wp\/v2\/tags?post=1213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}