URGENT: Egypt denies seeking larger IMF loan tranche

Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), on Tuesday refuted recent media claims that Egypt had requested an increase in the upcoming loan tranche from the International Monetary Fund (IMF).

In his capacity as Egypt’s representative to the IMF, Abdalla confirmed that such reports were baseless and lacked any truth.

Media reports had been circulating that the Egyptian government sought to raise the value of the upcoming fourth tranche of its loan package from $1.3 billion to $2 billion.

An IMF mission is currently in Cairo conducting the fourth review of Egypt’s loan programme.

Attribution: CBE emailed statement