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Egypt Eyes IMF's 1st Tranche in Dec.- Finance Minister


Sun 04 Dec 2022 | 06:18 PM
Taarek Refaat

Mohamed Maait, Minister of Finance, said that the first tranche of the International Monetary Fund (IMF) loan will amount to $750 million.

"We hope it will be this month," the minister added, in a panel discussion during the CEO's Thoughts conference on Sunday, speaking about the first tranche of the loan.

Egypt reached a preliminary agreement with the International Monetary Fund at the end of last October, providing financing worth $9 billion, including $3 billion directly from the Fund.

The minister said that the financing provided by the IMF is estimated at $3 billion for a period of four years, in addition to other financing sources that the government is considering.