Egypt announces a three-billion USD loan deal with IMF
epa10268980 Egyptian guard stands outside a currency exchange office with a large-scale image of the US dollar in Cairo, Egypt, 27 October 2022. The Central Bank of Egypt (CBE) on 27 October increased key interest rates by two percent as the Egyptian Pound (EGP) dropped to record low against the USD loosing around 16 percent reaching the 23EGP for a dollar. The government on the same day announced a three-billion USD deal with the International Monetary Fund (IMF) as part of a financial scheme worth nine-billion USD. EPA/KHALED ELFIQI
