VOL. XXXIX

No. 46

12-August-1996

EGYPT

IMF Agrees Reform Package With Egypt

The International Monetary Fund has agreed a reform package with the Egyptian authorities which may lead to the long- awaited settlement on a third tranche of debt forgiveness worth $4bn. Western creditors waived the first two tranches, worth $10bn, in the aftermath of the Gulf war, but the Paris Club of commercial creditors made an agreement with the Fund on further structural reform a condition of waiving the...