Cairo – Mubasher: Egypt's Ministry of Finance (MoF) said Sunday that the Central Bank of Egypt (CBE) would receive the second tranche of the International Monetary Fund's (IMF) loan after finishing the first revision by April or May 2017.
The second tranche will be at $1.25 billion, the ministry added.
Earlier, Chris Jarvis, the IMF mission chief for Egypt, said the CBE will receive the second tranche of the International Monetary Fund's (IMF) $12 billion loan next spring
"With regard to the second stage, that will probably come in spring. The way the program is structured is two tranches in each year for the three-year program – so a total of six altogether. Most of the tranches are for $2 billion", Jarvis told a talk show broadcasted by CBC yesterday.
On 11 November, the IMF approved Egypt's three-year loan program worth $12 billion.
