Egypt expects to receive the third loan installment of the International Monetary Fund (IMF) in next December، Finance Minister Amr al-Garhi told Reuters on Tuesday.
The third loan installment worth two billion dollars.
In 2016، Egypt agreed to a three-year، $12 billion IMF loan program. The International Monetary Fund has approved a three-year $12 billion (11.5 billion euros) loan package for Egypt to revive its economy.
The program will help "restore macroeconomic stability and promote inclusive growth،" the IMF board said in a statement.
“Policies supported by the program aim to correct external imbalances and restore competitiveness، place the budget deficit and public debt on a declining path، boost growth and create jobs while protecting vulnerable groups.”