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FinancialNews


  • 18-05-19

    USD2b IMF tranche to reach Egypt

    (MENAFN) Egypt will receive USD2 billion from the International Monetary Fund (IMF), marking the last tranche of a USD12 billion loan.

    An IMF crew sealed a staff-level deal with Egypt on handing out the final amount of the loan, which was agreed upon back in 2016 under a three-year loan.

    It comes as Egypt commenced economic reforms that cover sharp devaluation of the pound, strong reductions of its energy subsidies and launching new taxes.

    IMF confirmed: "looking ahead, we welcome the authorities' focus on structural reforms as it needs to be deepened to facilitate inclusive growth and job creation for all."

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