Egypt Independent

Egypt expects IMF loan final tranche in July – deputy finance minister



CAIRO, May 7 (Reuters) – Egypt expects, in principle, to receive the final tranche of about $2 billion of its IMF loan in July, Deputy Finance Minister Ahmed Kouchouk said on Tuesday.

The International Monetary Fund offered the three-year $12 billion loan programme in 2016 after Cairo agreed to a reform package including a steep devaluation of the pound, deep cuts to energy subsidies and the introduction of a value-added tax.

(Reporting by Ehab Farouk Writing by Yousef Saba Editing by Mark Heinrich)