IMF says ready to disburse final $2 bln tranche of… – News Stories

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CAIRO, May 17 – The International Monetary Fund said on Friday its team had reached a staff-level agreement with Egypt to disburse the final $2 billion tranche 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. (Reporting by Lena Masri; Editing by Hugh Lawson)

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