#billion. #International #Monetary #Fund #Egypts #loan #tranches
12:35 AM Saturday, April 27, 2024
Written by Manal Al-Masry:
Today, Friday, the International Monetary Fund announced the expert report on the first two references of the Egypt loan program, which includes rescheduling the tranches of the loan disbursement to Egypt after approving its increase from 3 to 8 billion dollars.
Before the end of last March, the International Monetary Fund announced the approval of its Executive Board to raise the value of the loan with Egypt to $8 billion, and to complete the two reviews postponed from March and September 2023.
After completing the two reviews, the Fund confirmed that the Egyptian government is entitled to receive $820 million immediately, which represents the value of the Fund’s first two reviews.
Before that, Egypt received about $347 million, the first installment of the International Monetary Fund loan after approving a $3 billion loan last December.
In the following lines, Masrawy presents the proposed dates for the reviews and disbursement by the International Monetary Fund of the upcoming loan tranches for Egypt.
June 15, 2024: Egypt receives $820 million after the third review of the Fund’s loan.
September 15, 2024: Egypt receives $1.216 billion after review 4 of the IMF loan.
March 15, 2025: Egypt receives $1.216 billion after review 5 of the IMF loan.
September 15, 2025: Egypt receives $1.216 billion after review 6 of the International Monetary Fund loan.
March 15, 2026: Egypt receives $1.216 billion after review 7 of the International Monetary Fund loan.
September 15, 2026: Egypt receives $1.216 billion after review 8 of the International Monetary Fund loan.
