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Minister: Egypt to receive third $2 bln tranche of IMF loan between December and January

Monday 17-07-2017 - 05:49 PM
News Agencies
Minister: Egypt to
Cairo - Egypt expects to receive a third loan installment worth $2 billion from the International Monetary Fund between December and January following the next review between November and December, Finance Minister Amr El-Garhy reported to Reuters on Monday.

Last week, the IMF approved a second loan installment worth $1.25 billion.

Egypt agreed to a three-year, $12 billion IMF loan programme in November that is tied to ambitious economic reforms such as subsidy cuts and tax hikes. 

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