Egypt expects third IMF loan disbursal of $2 bln between Dec, Jan: FinMin

Big 5

Egypt expects to receive a third loan disbursal worth $2 billion from the International Monetary Fund between December and January following a next review between November and December, the country’s Finance Minister Amr el-Garhy told Reuters on Monday.

Last week, the IMF approved a second loan instalment 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.

Source: Reuters

Comments
Loading...