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FinancialNews
07-02-19
IMF delivers USD2b installment to Egypt under loan pact
(MENAFN) The International Monetary Fund (IMF) delivered the fifth tranche of a loan to Egypt, granting it USD2 billion of the USD12 billion agreement.
Egypt secured the loan agreement with the IMF for its economic reform plan to receive financial endorsement.
A Central Bank of Egypt (CBE) official announced: "Egypt received 2 billion dollars from the IMF on Tuesday evening as the fifth tranche of the loan after the approval of IMF board that praised the progress made by Egypt in implementing the economic reform program."
So far, following the last installment, Egypt took the delivery of USD10 billion under the USD12 billion loans the IMF approved for the three-year economic program.
MENAFN0702201900450000ID1098084511
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