URGENT: Egypt signs new IMF deal

Egypt has on Wednesday signed an agreement with the International Monetary Fund (IMF) to extend the current $3 billion loan deal to $8 billion.

The agreement was announced during a press conference attended by Prime Minister Mostafa Madbouly, Governor of the Central Bank of Egypt (CBE) Hassan Abdalla, Ivanna Vladkova Hollar, Head of IMF mission in Cairo.