Cairo – Mubasher: Egypt’s deputy finance minister Ahmed Kojak said that the International Monetary Fund’s (IMF) delegation are expected to visit Egypt by the end of October.
The visit will last until the first week of November, Kojak added on the sidelines of the Ministry of Finance’s (MOF) press conference on Tuesday.
The IMF mission chief for Egypt said that Egypt will receive the third loan instalment of $2 billion by December.
The Egyptian minister of finance Amr El-Garhy forecasted Egypt to get the third loan tranche from the IMF in December 2017.
Additionally, El-Garhy anticipated Egypt to receive a $4 billion loan during the current fiscal year.
Egypt had received about $4 billion loan from the IMF through $2.75 billion and it will obtain a $12 billion loan.
In November, the IMF approved a $12-billion three-year loan program to Egypt, under which the country received the first and second instalments of $2.75 billion and $1.25 billion, respectively, of $4 billion tranche of the loan.
