Egypt gets $270 million support from Arab Monetary Fund

Ahram Online, Monday 19 Dec 2011

Egypt will receive US$270 million to support its budget from the Arab Monetary Fund this month, the Abu Dhabi-based fund said in an e-mailed statement today.

Egypt has so far received $470 million in budgetary support from AMF, to cover its deficit which expanded after the uprising in February that toppled President Hosni Mubarak.

The funds are to support the budget, and facilitate the structural correction of the government finance sector, according to the statement.

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