IMF allows Egypt to draw $1.67 bln from stand by arrangement

The International Monetary Fund has completed the first review of Egypt’s reform program, allowing the country to draw $1.67 billion under a stand by arrangement (SBA), the fund said on Friday.

This brings the total disbursement under the 12-month SBA to $3.6 billion, the IMF said in a statement. (Reporting By Ahmed Tolba and Ulf Laessing Editing by Chris Reese)