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Egypt expects third IMF loan disbursal of $2 bln between December and January: Minister

Reuters , Monday 17 Jul 2017

Amr El-Garhy
File Photo: Egypt's Finance Minister Amr El-Garhy attends a news conference in Cairo, Egypt (Photo: Reuters)

Egypt expects to receive a third loan instalment worth $2 billion from the International Monetary Fund between December and January following a next review between November and December, Finance Minister Amr El-Garhy told Reuters on Monday.

Last week, the IMF approved a second loan instalment worth $1.25 billion.

Egypt agreed to a three-year, $12 billion IMF loan programme in November that is tied to ambitious economic reforms such as subsidy cuts and tax hikes.

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