Egypt expecting 5th tranche of IMF loan in January – presidency

Egypt expecting 5th tranche of IMF loan in January - presidency
Egypt expecting 5th tranche of IMF loan in January – presidency

Egypt is expecting to receive the fifth installment of its three-year IMF loan programme, worth $2 billion, in January 2019, the presidency said in a statement on Sunday.

The International Monetary Fund offered the $12 billion loan programme in 2016 when Egypt agreed to a package of reforms including the devaluation of the pound, cuts to energy subsidies and implementation of a value-added tax.

Source: News Agencies