The International Monetary Fund’s (IMF) Executive Board plans to vote Thursday on the first review of Egypt’s economic reform programme, in which Egypt will receive $1.25bn. Egypt has received the first tranche of the loan, worth $2.75bn, in November 2016. The IMF had agreed on Egypt’s loan, worth $12bn, in 2016. The IMF delegation came to Egypt to review the reforms with the government last May. They announced in a statement that the IMF team and the Egyptian authorities had reached an expert-level agreement on the first review of Egypt’s economic reform programme that is supported by the IMF.

Source: Daily News Egypt July 12, 2017 15:45 UTC