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Egypt expects to receive the second tranche of its loan from the International Monetary Fund within the second half of June, the country’s Minister of Finance Amr el-Garhy said Sunday.
He told a news conference that the IMF delegation’s review of Egypt’s economic reforms was going well.
The IMF approved a $12 billion, three-year loan programme to Egypt in November and paid out $2.75 billion of the first $4 billion tranche of the loan. An IMF team is in Cairo this week conducting a review of Egypt’s reform efforts to decide when the next $1.25 billion will be disbursed.
