The International Monetary Fund approved $2.5 billion in financing for Egypt — about half of which will be paid out immediately — as it urged further reforms for the country that’s seeking to emerge from its worst economic crisis in decades.

The International Monetary Fund (IMF) has approved disbursement of $1.2 billion to Egypt after completing the fourth review of the country's $8 billion economic reform programme. The IMF's executive board also approved Egypt's request for an arrangement under the resilience and sustainability facility (RSF),

The International Monetary Fund approved the disbursement of $1.2 billion to Egypt following completion of the fourth review of the country's $8 billion economic reform programme, after allowing Egypt to waive a primary budget surplus target.