President El-Sisi approves a new loan from the Arab Monetary Fund valued $614.3 mn

In its issue No. 10, dated 7 March 2024, the Official Gazette published 7 new republican resolutions of President Abdel Fattah El-Sisi, including the President's approval of a loan agreement to facilitate the seventh structural Adjustment between the Egyptian government and the Arab Monetary Fund.

President El-Sisi's decision No. 473 of 2023 approved the seventh structural Adjustment loan agreement between the Egyptian government and the Arab Monetary Fund worth 153.475 mn dinars (equivalent to approximately $614.3 mn).

The Official Gazette also published President's Decision No. 483 of 2023, approving the letter amending loan agreements with the European Bank for Reconstruction and Development on the abandonment of LIBOR as a reference interest rate and replacing it with SOFR.