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After nine months of negotiations, the International Monetary Fund (IMF) approved on 17 December a deal to provide Egypt with $3 billion in finance over 46 months, giving a breather to the economy struggling with the fallout of the Russia-Ukraine war.
The first tranche of the loan, $347 million, will be immediately disbursed.
The deal is expected to catalyse additional financing of about $14 billion from Egypt’s international and…