×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: ML | Egypt

Egypt Expects Second Tranche of IMF Loan in June

Sunday, 07 May 2017 02:38 PM EDT

CAIRO (AP) — Egypt expects to receive the second tranche, worth $1.2 billion, of a three-year International Monetary Fund loan in the second half of June.

Finance Minister Amr el-Garhy announced at a press conference Sunday that negotiations with the IMF delegation, which is visiting Egypt, are going "very well".

The delegation arrived in Cairo late April and is set to stay until May 11 to review Egypt's progress in its economic reform program.

Egypt secured the loan in November to support the program. A tough set of economic measures were required to qualify for it, including reducing subsidies, enacting the value-added tax, as well as the devaluation and subsequent floatation of its local currency.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


MiddleEast
Egypt expects to receive the second tranche, worth $1.2 billion, of a three-year International Monetary Fund loan in the second half of June.Finance Minister Amr el-Garhy announced at a press conference Sunday that negotiations with the IMF delegation, which is visiting...
ML,Egypt
114
2017-38-07
Sunday, 07 May 2017 02:38 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved