IMF's mission agrees on Egypt's loan 3rd disbursement

CAIRO – 10 November 2017: The International Monetary Fund (IMF) announced Friday that its team that visited Cairo from October 25 to November 9, has reached a staff-level agreement with the Egyptian authorities on the second review of Egypt’s economic reform program.

The mission held discussions on the 2017 Article IV Consultation with Egypt and the second review of Egypt’s economic reform program supported by a three-year IMF Extended Fund Facility, the fund said in a statement.

Once being approved by the IMF's Executive Board, the staff-level agreement would make available SDR 1,432.76 million (about US$2 billion), once being approved by. This will bring the total disbursements under the program to about US$6 billion.