IMF to approve $1.6-billion for Egypt
THE International Monetary Fund expects to provide an additional $1.6 billion in financing to Egypt after its executive board approves the funding in coming weeks. The IMF said its staff reached an agreement with Egyptian authorities about the additional funding after a second and final review of Egypt's economic program and a $5.2 billion 12-month stand-by arrangement. "Egypt's economy has shown resilience, with the impact of the COVID-19 crisis mitigated by the authorities' swift, and balanced policy response," the IMF said in a statement. It said Egypt's fiscal and monetary policies should continue to support the economic recovery, and called…