FINANCIAL NEWS

Egypt predicts to receive 2nd tranche of IMF loan by June

08 May 2017

(MENAFN) Minister of Finance proclaimed that Egypt would deliver the second tranche of the IMF loan by the second half of June, worth USD1.25bn, while the total amount is USD12bn.

Furthermore, the Egyptian economy’s main indicators are recently under evaluation and revision by the IMF’s delegation and the government.

Additionally, the government’s program involves many reforms that have come into actions like the value-added tax (VAT), pound inflation and subsidy cuts.

The last issuance raised the registrations of debt instruments to USD4.1bn instead of USD950mn, while raising interest rate is the Central Bank of Egypt’s responsibility.

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MENAFN0805201700450000ID1095459499

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