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During a press conference on Sunday 15 May, premier Madbouly said a new accord with the IMF, which has disbursed loans worth $20bn in total to the North African country since 2016, is expected to come into effect “in a […] few months”, but he did not disclose the expected value of the financing component.
Allen Sandeep, director of research at Cairo-based investment bank Naeem Holding, believes that a new loan from the IMF could be between $4bn to $6bn. Whichever the case, he tells The Africa Report that an IMF agreement will boost investors’ confidence in the Egyptian market and pave the way for euro-denominated bond issuances.
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