Egypt Expects to receive $639 million from the sale of two government assets

The International Monetary Fund expects Egypt to receive $639 million in financing from the sale of two other government assets in the second quarter of 2024.

It came after the International Monetary Fund’s  board completed the first and second reviews of Egypt’s long-awaited economic reform program of Egypt’s financing agreement.

The IMF agreed in mid-March to increase the agreement with Egypt to $ 8 billion, after Cairo announced the liberalization of the exchange rate following the signing of the Ras El Hikma deal with the United Arab Emirates.

Egypt denies its agreement to establish an alternative port to the Rafah port and confirms its refusal to allow its forces to enter Gaza