Egypt expects over $20b FX inflows post IMF deal – FinMin
Egypt’s Minister of Finance, Mohamed Maait said on Tuesday that the anticipated foreign cash inflows are estimated to surpass $20 billion following successful negotiation of an expanded International Monetary Fund (IMF) programme.
During a meeting with key media figures in the country, Minister Maait said such anticipated influx are also backed by additional funding packages by international financial institutions and development partners aimed to bolster the Egyptian economy.
Moreover, a financial package from the European Union, valued at €7.4 billion, is also expected to reinforce the country’s economic stability, he added.
Maait further said that this positive trajectory is beginning to reflect favourably in the credit rating outlook for Egypt’s economy, with Moody’s leading the optimistic reassessment in its latest report.
