The International Monetary Fund said on Wednesday it reached a staff-level agreement on the fourth review under the Extended Fund Facility arrangement with Egypt. Subject to approval by the executive board,

The agreement includes recalibrating Egypt's fiscal commitments to create space for critical social programmes benefiting vulnerable groups and the middle class, while ensuring debt sustainability

The International Monetary Fund on Tuesday reached an agreement with Egypt, allowing the country to access about $1.2 billion, subject to approval by the executive board. This follows the IMF staff-level agreement on the fourth review under the Extended Fund Facility (EFF) arrangement.