NO. 34


Financial and Banking News

Budgets & Revenues

Egypt and IMF Sign Accord, Egyptian Budget Reflects Reform Program

The IMF approved the long-awaited standby credit agreement for Egypt on 17May, after more than three years of hard negotiations. The agreement makesavailable $372mn over eighteen months to assist Egypt in carrying out the tougheconomic reform package on which the approval was conditional. More importantly,the agreement opens the way for a $300mn World...