Cairo – Mubasher: Egypt will receive the second tranche of the International Monetary Fund’s (IMF) $12 billion loan next week, the minister of finance, Amr Al-Garhy, said.
In TV statements, Al-Garhy added that the IMF has tentatively agreed to release the second tranche of the loan.
Egypt reached an agreement with the IMF in August 2016 on a $12 billion loan of over three years. The country received the first $2.75 billion tranche in November 2016.
In April, a mission from the IMF had visited Egypt to review the latest developments of the government's economic reform programme.
The IMF mission chief for Egypt, Chris Jarvis, said in May that the IMF staff team and the Egyptian authorities have reached a staff-level agreement on the first review of Egypt’s economic reform programme.
