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IMF reaches an agreement with Egypt to disburse final tranches of $12 billion loan


Devdiscourse News Desk Egypt Arab Rep
Updated: 17-05-2019 19:39 IST
IMF reaches an agreement with Egypt to disburse final tranches of $12 billion loan

Image Credit: IANS

The International Monetary Fund said on Friday its team had reached a staff-level agreement with Egypt to disburse the final $2 billion tranches of a $12 billion loan.

The three-year loan programme was signed in 2016. As part of the IMF programme, Egypt has been carrying out economic reforms including a steep devaluation of the pound, deep cuts to its energy subsidies and the introduction of new taxes.

(With inputs from agencies.)

COUNTRY : Egypt Arab Rep

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