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Elham AbolFateh
AR
Friday 18 August 2017

Egypt

Egypt to get 2nd IMF loan tranche in May

Monday 20/March/2017 - 08:31 PM
Sada El Balad
By Alaa Turki

Egyptian Finance Minister Amr al-Garhi told Reuters on Thursday that there are expectations for the second tranche of the IMF loan to arrive in May or June.

The IMF agreed on a program for three years، with Egypt in November last year and released a first tranche worth $ 2.75 billion of the loan of 12 billion dollars that aims to give a boost to the economy.

Al-Garhi confirmed on Wednesday that the mission of the International Monetary Fund will visit Egypt during the period from April 28 until the eighth of May next year to conduct an audit.

The minister added، in a statement to Reuters، "The IMF mission will visit Egypt on April 28 until May 8 to conduct an audit in preparation for the second tranche of the loan."

The IMF agreed on a program for three years، with Egypt in November last year and released a first tranche worth $ 2.75 billion of the loan of 12 billion dollars; it aims to give a boost to the economy.

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