IMF to announce its second review of Egypt tomorrow

The International Monetary Fund (IMF) will announce the second review report and expert opinion on Egypt’s economic reform programme on Tuesday.

Concurrent with the launching of the IMF report, IMF Mission Chief for Egypt Subir Lall will also hold a press conference.

In November 2016, the IMF gave the green light for a $12bn loan to Egypt over three years, on the condition of implementing an economic reform programme.

The IMF mission visited Egypt between 25 October and 9 November to conduct the second review of the programme.

During the visit of the IMF Mission for Egypt in October, Lall said that the IMF and Egypt reached an expert-level agreement on the second review of Egypt’s economic reform programme.

Egypt has already received three portions of the loan worth $2.75bn, $1.25bn, and $2bn since signing the agreement in November 2016.