Egypt's new IMF agreement aims to reduce government debt.
The fund did not require the Egyptian government to cut spending on subsidies, the report said, adding that the new programme aims to strengthen the social protection network for citizens.on Friday a 46-month $3 billion financial support package for Egypt, saying it will catalyse additional funding of about $14 billion.
Of that, $2 billion would come from the sale of equity in private sector companies and $3 billion from multilateral support, separate to the rollover of deposits by Gulf states in Egypt's central bank. The IMF said its program aimed to support plans by authorities to reduce the state's footprint in the economy, increase transparency around SOEs, and create a level playing field for all economic actors.
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