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Egypt to receive $2 billion as part of IMF loan in July 2018

Sunday 17/June/2018 - 04:11 PM
Sada El Balad
Hassanein Tayea
Egypt will receive $2 billion in the fourth disbursal from a $12 billion International Monetary Fund loan in June or July، Finance Minister Mohamed Maeit said on Sunday.


The disbursement will bring the total Egypt has received so far from the facility to $8 billion. Last week، the IMF agreed to the third disbursal، which was also worth $2 billion.


In statements، Minister of Finance، Dr. Mohamed Maeit، said that the IMF Executive Board is scheduled to discuss، in its coming meeting، the disbursement of $ 2 billion to Egypt.


The Minister stressed that the economic reform program is progressing steadily amid positive indicators by the international institutions، International investment community، and credit rating agencies.

The Finance Minister added that the fourth tranche of the International Monetary Fund's loan estimated at 2 billion dollars will be included within the foreign exchange reserve balances in the Central Bank of Egypt to support its assets.

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