VOL. XXXVI
NO. 52
27-SEPTEMBER-1993
Financial and Banking News
ECONOMIC POLICY
IMF Approves Three Year Facility For Egypt
The IMF has approved a three-year Extended Fund Facility (EFF) under whichEgypt can draw up to SDR400mn ($569mn). The facility aims to support medium-termeconomic and financial reform, and follows a two-year standby credit forSDR234.4mn which expired in May after a six-month extension. Egypt willprobably not need to draw on the facility, since it has foreign currencyreserves of...
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