Egypt to receive $2B of IMF $12B in June or July 2018

CAIRO – 23 December 2017: Egypt will receive the 4th tranche of the IMF $12 billion fund facility at a value of $2 billion in June or July 2018, Deputy Finance Minister for Monetary Policies, Ahmed Kojak, told Reuters on Saturday.

Kojak added that an IMF delegation will visit Egypt in May to review the economic reform program, Reuters said.

The IMF Executive Board approved in November 2016 a three-year bailout loan to Egypt worth $12 billion to support its economic reform program.

Last week the IMF approved the third $2 billion tranche of Egypt’s $12 billion Extended Fund Facility.