Egypt, IMF Agree on $4.8 Billion Stand-by Agreement
Posted on November 21, 2012 at 02:54 AM EST
ISTANBUL--November 21, 2012--Researched by Industrial Info Resources (Sugar Land, Texas)--The Internatinoal Monetary Fund (IMF) and Egypt have agreed on a 22-month stand-by agreement (SBA) for $4.8 billion, which will support the government's economic program through fiscal year 2013-14. The SBA request is expected to be submitted to the IMF Executive Board for approval in a few weeks. The IMF statement indicates that "fiscal reforms are a key pillar under the program."