Financial and Banking News
AMF Lends Egypt and North Yemen $33.8mn
The Arab Monetary Fund (AMF) agreed last week to lend Egypt AAD4.6mn($18.3mn), the first loan of its kind since Egypt's membership in the Fund wasfrozen after it signed the Camp David agreements with Israel in 1979. The AMFalso agreed to lend North Yemen AAD3.9mn ($15.5mn). The three year loans will beused to offset the deficit in the two countries' balance of payments, and carryinterest...