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FinancialNews
25-07-19
Egypt to receive USD2b as IMF tranche
(MENAFN) Egypt was announced to be set to take delivery of USD2 billion from the International Monetary Fund (IMF) as part of a loan agreement worth USD12 billion with the amount being the last tranche.
IMF already delivered USD10 billion of the loan deal which was secured to help Egypt in its economic reform plans.
The tranche approval came following a vote which board of the IMF conducted on Wednesday for the final payment.
During the fiscal year 2018-19, Egypt achieved a 5.6 percent economic growth to indicate strong rebound, affirmed Finance Minister Mohamed Maait earlier.
MENAFN2507201900450000ID1098801815
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