Egypt receives $820mln in 2nd tranche of IMF loan

Yuri Gripas

Egypt was scheduled to receive the first tranche of the program during the first week of April

Staff Writer, Arab Finance

April 22, 2024

PHOTO

Egypt has received $820 million as the second tranche of the International Monetary Fund’s (IMF) loan program on Saturday, April 20th, two unnamed sources told Asharq Business.

Egypt was scheduled to receive the first tranche of the program during the first week of April, as previously announced by Prime Minister Mostafa Madbouly in March.

After the IMF’s Executive Board completed the first and second reviews of the Extended Fund Facility (EFF) deal with Egypt last month, it noted that the Egyptian authorities could immediately draw around $820 million. The IMF also approved to extend the loan program with the country by $5 billion.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.