Third IMF tranche to come in December: Minister

CAIRO – 20 August 2017: Egypt will receive the third tranche of the International Monetary Fund (IMF), valued at $2 billion, in December, Minister of Finance Amr El-Garhy said Sunday.

Over fiscal year 2017/18, Egypt is scheduled to receive $4 billion from the IMF, Garhy told Egypt Today.

The IMF will hold its next review for Egypt in November, to assess the economic reform measures taken by the government, after the annual meetings of the IMF and the World Bank in October.

In July, the IMF's Executive Board completed the first review of Egypt’s economic reform program supported by an arrangement under the Extended Fund Facility (EFF).

Following the review, the fund approved the disbursement of the second tranche worth $1.25 billion of Egypt's $12 billion loan, bringing the total amount disbursed so far to $3.95 billion.