Cairo – Mubasher: The Executive Board of the International Monetary Fund (IMF) approved disbursing the second tranche of Egypt’s loan that amount to $1 billion.
Earlier, Egypt has won IMF approval for a three-year, $12bn bailout program aimed at reviving the struggling economy, bringing down public debt and controlling inflation.
Last September IMF disbursed an initial loan tranche of $2.75bn to Egypt's central bank.
The remainder will be phased out over the next three years and are subject to five reviews on required reforms.
