IMF increases Egypt's bailout loan to $8 billion

WASHINGTON, D.C.: On March 29, the International Monetary Fund's (IMF) executive board confirmed a deal to increase its bailout loan to Egypt from US$3 billion to $8 billion.

The move aims to support the economy of the most populous Arab country, which has struggled from a foreign currency shortage and rising inflation.

As part of the deal announced earlier this month, Egypt will immediately receive some