Egypt to receive fourth tranche of IMF loan package
JOHANNESBURG - Egypt is set to receive the fourth tranche of an International Monetary Fund loan package by the end of July, newly appointed finance minister Mohamed Moeet said on Monday.
In statements to the privately owned CBC TV channel, Moeet said Egypt would receive the $2 billion by the end of next month, bringing the total amount disbursed to $8 billion since it the Extended Fund Facility with the IMF in November 2016.
Moeet said the new tranche would be used to fund the country’s general budget, as well as strengthening foreign reserves.
- African News Agency (ANA)