IMF to consider Egypt's request for emergency loans on 11 May
The executive board of the International Monetary Fund (IMF) announced on Wednesday that it will convene on 11 May to discuss Egypt’s request to get a financial package under the Rapid Financing Instrument (RFI), according to the board’s calendar published on the IMF website.
According to the IMF, the RFI provides rapid and low-access financial assistance to member countries facing an urgent need for a balance of payments, without the need to have a full-fledged program in place.
It can provide support to meet a broad range of urgent needs, including those arising from commodity price shocks, natural disasters, conflict and post-conflict situations, and emergencies resulting from fragility.