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English news

16-Mar-2017

IMF delegation to visit Egypt from 28 April to 8 May; second tranche to be disbursed in May-June, Finance Minister says

A delegation from the IMF will visit Egypt from 28 April to 8 May and the second tranche (USD1.25bn) of the loan is expected to arrive in May-June, said Minister of Finance, Amr El-Garhy. IMF’s first review mission was originally scheduled in February-end-early-March, but got postponed because the government is tied up with other commitments including FY17/18 budget, IMF Mission Chief to Egypt, Chris Jarvis, said earlier this month. The fund typically takes six-eight weeks, following the visit to submit a review report on the reform to the board, and then disburse the second tranche. 

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