Reuters RG / IGA
The International Monetary Fund said on Friday that it had completed the first review of Egypt’s economic reform program, allowing the government to withdraw $ 1.67 billion.
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The fund said in a statement that the total funds disbursed to Egypt within the framework of a 12-month credit agreement amounted to $ 3.6 billion.
Egyptian Finance Minister Mohamed Maait said last month that Egypt expects to receive another tranche of $ 1.6 billion in a loan from the International Monetary Fund by the end of December.
And earlier in November, the IMF announced that it had reached an expert-level agreement with Egypt after the first review of a $ 5.2 billion financing agreement.
Source: “Reuters”
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