Egypt to receive the second tranche of IMF’s $3 bln loan by end of March

Hollar's remarks came in response to Ahram Online's questions about the time the IMF will complete the reviews of Egypt’s loan programme and the way the 46 month programme supports the macroeconomic performance of the country.

The IMF approved in December a 46-month loan for Egypt under the Fund’s Extended Fund Facility (EFF)  to address the impacts of the Russian-Ukrainian conflict that caused an unprecedented inflationary wave.

The IMF will conduct a biannual review during the period of the programme, in March and September of each year, and disburse equal tranches accordingly.

Hollar also noted that the IMF-backed programme for Egypt aims to preserve the country’s macroeconomic stability, restore buffers, and pave the way for sustainable, inclusive, and private-sector-led growth.