The Arab Monetary Fund (AMF) extended a new $368 million compensatory loan to Egypt to provide financial support to strengthen the country’s financial position and meet emergency needs. The assistance comes as a support to the reform efforts of member countries and the measures they are taking to stimulate the economy and provide liquidity.
AMF is keen to support the efforts of its member countries to implement economic, financial and structural reforms, in face of various challenges, through a number of means, including financing the needs of the balance of payments and public budgets, and financing trade through its affiliate the Arab Trade Financing Program, in addition to its role in promoting policy dialogue and consultation on economic, financial and development issues via its various forums and activities, providing technical advice to member countries in the field of economic, fiscal and financial policies, and providing training for government officials in member countries through its Institute for Training and Capacity Building.
The AMF follows closely the developments of the Egyptian economy and the challenges it faces due to the current circumstances and works through a fruitful partnership with the Egyptian government to help the country contain the different challenges in the most effective way.
The insituition is currently studying financing requests from other member countries, and is processing the requests through expeditious procedures, in order to provide support as quickly as possible, so that the borrowing member countries can meet financing needs and enhance their financial positions to face various challenges, especially in such times.