💨 Abstract

The International Monetary Fund (IMF) has reached a staff-level agreement with Egypt to provide about $1.2 billion in funding to bolster the country's finances, which are under strain. The agreement, pending approval by the IMF's Executive Board, involves Egypt committing to increasing its tax-to-revenue ratio by 2% of GDP over two years and expediting the sale of state-owned companies, among other reforms.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖