Last Update 10:20
Wednesday, 16 October 2019

Egypt IMF loan to be repaid in 10 years, targets higher growth

Reuters , Sunday 13 Nov 2016
Amr El-Garhy
Minister of Finance Amr El-Garhy (Photo file: Al-Ahram)
Views: 2803
Views: 2803

Egypt's $12 billion three-year IMF loan programme will be repaid in 10 years with a 4.5 year grace period and the reforms agreed with the international lender aim to boost growth and curb inflation, the finance ministry said on Sunday.

It said the reforms target GDP growth of 5.5 percent and inflation of less than 10 percent by the 2018-19 fiscal year.

The International Monetary Fund approved on Friday a programme aimed at helping Egypt close its budget gap and rebalance its currency markets.

Egypt's headline inflation was near 14 percent in October and the economy grew 4.3 percent in the 2015-16 fiscal year. 

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.