IMF likely to provide next tranche of Egypt's loan program in January

Egypt is expecting to receive the fifth instalment 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.