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The board of the International Monetary Fund on Monday approved a $ 2 billion loan payment to Egypt, the latest in the country's three-year aid program.
The latest installment brings the total amount paid in Cairo to around $ 10 billion since the signing of the loan agreement in November 2016.
The previous loan tranche had been approved last July, but this fourth review of the Egyptian program had been awaiting approval by the board of directors since October, when IMF staff and government officials approved it. had finalized.
IMF chief Christine Lagarde announced on Jan. 25 that the final details had been finalized, paving the way for payment.
Since the 2011 uprising that overthrew former President Hosni Mubarak, the economy of the most populous country in the Arab world has suffered many shocks caused by political instability and security problems.
Egypt has imposed severe austerity measures to revive the economy and reduce the budget deficit, including by raising fuel prices and electricity tariffs.
Lagarde praised the "substantial progress" made by the Egyptian government in the reforms, which boosted growth and reduced unemployment to the lowest rate since 2011.
But she also urged the government "to pursue structural reforms that facilitate growth and job creation by the private sector".
The fund expects 5.5% growth in the economy this year.
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