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.

The United Nations calls for an emergency Security Council session due to tensions between Sudan and the UAE