IMF to discuss disbursing a tranche of $2 bln to Egypt Wednesday

The Executive Board of the International Monetary Fund (IMF) is scheduled to hold a meeting Wednesday  to discuss disbursing Egypt  the first installment of the second tranche of the of the $12 billion loan.

the meeting will be held in the United States capital, Washington according to the IMF agenda posted on its official website.

Egypt is expected to receive about $2 billion in the light of the second review of Egypt’s economic performance and its reform program, that was prepared by the IMF staff team during their visit to Egypt.

Moreover, Egypt has reached a staff-level agreement following the second review of Egypt’s economic program that was compiled during the period October 25 to November 9.

Completion of the review would make available 1,432.76 million Special Drawing Rights (SDR) about $2 billion), bringing the total disbursements under the IMF program to $6 billion.