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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."
MENAFN1805201900450000ID1098537048
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