IMF ties Egypt loan disbursements to currency flexibility 

CAIRO: The International Monetary Fund will tie payments to Egypt under an $8 billion financial program to Cairo’s letting market conditions determine the price of its currency and its making foreign exchange available to businesses and private individuals, the IMF said on Monday. 

Egypt, which signed the loan agreement on March 6, will have immediate access to $820 million this week and another $820 million after a review to be completed by the end of June. 

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