Cairo – Mubasher: The fifth review of the Egyptian economic reform programme by the International Monetary Fund (IMF) will be conducted in June, director of the Middle East and Central Asia Department at the IMF Jihad Azour stated on Friday.
After the finalisation of the fifth review, Egypt is expected to receive the last tranche of a $12 billion loan provided by the IMF.
The IMF’s delegation will visit Cairo within the coming weeks to discuss many topics, which will not include taxes, Azour added.
Azour said that the delegation would discuss the reduction of the budget deficit and the redirection of subsidies to the neediest people.
The International Monetary Fund (IMF) expected that Egypt would maintain its tight monetary policy as long as inflation does not start a downward trend.
The international organisation revealed that Egypt’s international reserve was expected to grow to $45.4 billion during the fiscal year 2019-2020, compared to $44.9 billion in FY18/19.
In November 2016, the IMF agreed to grant Egypt a $12 billion loan under the North African country’s economic reform programme.
