IMF reaches staff-level agreement with Egypt on delivering second tranche of loan

IMF13/05/2017 (Ahram Online): The International Monetary Fund staff team and the Egyptian authorities have reached a staff-level agreement on the first review of Egypt’s economic reform programme, supported by the IMF’s $12 billion loan, according to a Fund statement on Friday. The statement by the head of the IMF delegation to Egypt, Chis Jarvis, said that once approved by the Fund’s executive board, “completion of the review would make available SDR 895.48 million (about US$1.25 billion), bringing total disbursements under the program to about US$4 billion.”The delegation from the IMF arrived in Cairo on 30 April to follow up on the progress in the country’s economic reform programme, ahead of delivering the second tranche of the IMF loan…




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