4. On 11 November, the International Monetary Fund (IMF) has approved loans worth 12 billion within 3 years for Egypt, to help this North African nation recover from a severe economic crisis. The IMF Executive Board said it would immediately grant 2.75 billion for Egypt and subsequent expenses will be based on the economic situation and the reform process of the Cairo. Statement of IMF stated: "this program will help Egypt to restore macro-economic stability and promote comprehensive growth". The move out of place after the Cairo made the important preliminary reform steps in the past week in order to meet the requirements of the IMF, including the float the Egyptian pound, the move makes the money off 45% versus the USD.
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