The International Monetary Fund’s (IMF) executive board approved on August 11 th a 12-month stand-by arrangement for Egypt at a total value of $5.2 billion (EGP 83.11 billion), according to an official announcement. This will grant Egypt access equivalent to a special drawing right of 3.76 billion or 184.8% of quota. The loan aims to help Egypt cope with challenges posed by the COVID-19 pandemic, the IMF said. It noted ...