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Egypt’s government signed contracts worth a total of USD 1.9 billion (EGP 58.7 billion) to sell stakes in state assets, announced Prime Minister Mostafa Madbouly in a press conference. This is the government’s first major step in its plans to stimulate the private sector and generate much-needed hard currency. The move also aligns with the conditions set in its loan agreement with the International Monetary Fund (IMF) approved in December 2022. USD 1.65 billion (EGP 50.9 billion) of the contracts…
