CAIRO - 28 May 2021: Egypt will receive the last tranche of its $5.2 billion loan from the International Monetary Fund (IMF) before the end of June, Minister of Finance Mohamed Maait suggested in remarks to Egypt Today. The value of the tranche is $ 1.6 billion. After the executive board of the IMF approves the new tranche during the coming days, the money will be transferred to the ministry's accounts in the Central Bank of Egypt. The IMF said on Tuesday that it expects to provide additional financing of $1.6 billion to Egypt, after it is approved by its executive board in the coming weeks. "Deepening and broadening structural reforms is critical to solidify the recovery, address post-COVID-19 challenges, strengthen buffers, and ensure higher and more inclusive growth," it added.

Source: Egypt Today May 28, 2021 19:48 UTC