Reuters logo
Egypt expects second instalment of IMF loan in second half of June
May 7, 2017 / 9:34 AM / 6 months ago

Egypt expects second instalment of IMF loan in second half of June

CAIRO (Reuters) - Egypt expects to receive the second instalment of its loan from the International Monetary Fund in the second half of June, Finance Minister Amr El-Garhy said on Sunday.

Egypt's Finance Minister Amr El-Garhy attends a news conference in Cairo, Egypt August 11, 2016. REUTERS/Mohamed Abd El Ghany

He told a news conference that the IMF’s review of Egypt’s economic reforms was going well.

The IMF approved a $12-billion, three-year loan program to Egypt in November and paid out $2.75 billion of the first $4 billion tranche of the loan. An IMF team is in Cairo this week conducting a review of Egypt’s reform efforts to decide when the next $1.25 billion will be disbursed.

Reporting by Abdel Rahman Adel,; Writing by Lin Noueihed; Editing by Giles Elgood

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below