Egypt to Receive Third Tranche from IMF worth $820 Mln within Days

Minister of Finance Ahmed Kouchouk confirmed that the approval of the Board of Directors of the International Monetary Fund (IMF) for the third review within the framework of the economic reform program is a "certificate of confidence" in the Egyptian government's program, including its financial and economic reforms and targets.

The finance minister explained that Egypt expects to receive the third tranche of the economic reform program worth $820 million in the coming days.

The minister added that the Egyptian government was able to achieve good indicators for the budget performance during the last fiscal year, and started the current fiscal year with ambitious indicators despite the economic pressures and unfavorable external conditions that affect the local economic situation.

"We aim to improve the business climate, the tax and customs systems to stimulate investment flows to the private sector and enhance its contributions to the Egyptian economy.