© Reuters.
Investing.com – In statements to Reuters, a senior International Monetary Fund official said the fund expects daily changes in the US exchange rate against the pound if import financing terms are lifted by the end of this month.
The official also said that the fund closely monitors the work of the foreign exchange market in the country.
On Friday, the International Monetary Fund agreed to give Egypt a $3 billion loan and give $347 million as an upfront payment. The loan guarantees that Egypt will receive about 14 billion dollars from the partners.
The exchange rate fell today on the black market, according to sources of information, to 29 pounds to the dollar, after the news that it had reached 38 pounds to the dollar.
“We know that the central bank has not yet stepped in to inject reserves into the foreign exchange market since we reached an expert-level agreement. But we also know that the delayed imports have not been unblocked,” Vladkova Hollar, head of the IMF mission in Egypt he said in an interview with Reuters.
