Egypt nets new IMF loan but pound plunges in value by 40%

CAIRO: Egypt secured an additional $5 billion in loans from the International Monetary Fund on Wednesday after the central bank raised interest rates and allowed the pound to plunge in value by nearly 40 percent. The bank said it was committed to “allowing the exchange rate to be determined by…#egypt

Source: Reuters: Health - March 6, 2024 Category: Consumer Health News Source Type: news