Egypt awaits IMF decision on $1.2 billion loan disbursement

Julie Kozack, the spokesperson for the International Monetary Fund (IMF), stated that the Fund’s Executive Board will discuss the disbursement of the fourth tranche of Egypt’s loan, amounting to $1.2 billion, in the coming weeks after the review is approved.

Kozack mentioned during a press conference on Thursday that the Fund is currently finalizing some items related to the fourth review to approve the disbursement, RT Arabic reported.

The Fund’s mission conducted its fourth review with the Egyptian government last December and announced that it had reached a staff-level agreement with the government under the $8 billion loan to support Egyptian economic reforms.