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| Name | IMF approves fourth tranche of Egypt's $12 billion bailout |
| Video Uploader | Video From CGTN Africa |
| Upload Date | This Video Uploaded At 05-07-2018 13:00:22 |
| Video Discription | The International Monetary Fund has approved the fourth installment of a 12 billion dollar loan for Egypt. This brings the total funds released to date to just over 8 billion dollars. The fund's board approved the latest 2 billion dollar disbursement under the aid deal signed in November 2016 to support Cairo's economic reform programme. The programme saw Egypt impose austerity measures and phase out subsidies on many goods and services, including this month's move to hike fuel prices by as much as 50 per cent. Electricity rates also went up by about 25 per cent. The IMF says Egypt is beginning to reap the benefits of the reforms, and estimates the economy will grow 5.2 per cent this year. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica [1bzRHY7COmE] |
| Category | News & Politics |
| Tags | Africa | News | CGTN Africa | International Monetary Fund | installment | Egypt |
