Pre-Trading Thoughts

The IMF Executive Board is scheduled to discuss the third review of Egypt's USD8 billion loan program today. The greenlight from the board will see the Fund disburse a fresh USD820 million tranche into the state coffers and will allow Egypt to apply for an additional USD1.2 billion in climate financing. The G20 countries could greenlight a decision to provide debt relief to the countries that are most indebted to the IMF, which could mean upwards of USD370 million in debt relief to Egypt. The...