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Tuesday, 14 July 2020

Egypt expects IMF loan final tranche in July: Deputy finance minister

Reuters , Tuesday 7 May 2019
Egypt's deputy finance minister for monetary policy Ahmed Kouchouk Reuters
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Views: 2171

Egypt expects, in principle, to receive the final tranche of about $2 billion of its IMF loan in July, Deputy Finance Minister Ahmed Kouchouk said on Tuesday.

The International Monetary Fund offered the three-year $12 billion loan programme in 2016 after Cairo agreed to a reform package including a steep devaluation of the pound, deep cuts to energy subsidies and the introduction of a value-added tax. 

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