2024-04-26 21:35:00
12:35 p.m.
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 Egyptian loan program, which includes the rescheduling of the disbursement tranches of the loan to Egypt following 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 increase the value of the loan with Egypt to $8 billion and to complete the two postponed reviews of March and September 2023.
After completing the two reviews, the Fund confirmed that the Egyptian government is entitled to immediately receive $820 million, which represents the value of the Fund’s first two reviews.
Before that, Egypt received around $347 million, the first tranche of the International Monetary Fund loan following 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 next loan tranches for Egypt.
June 15, 2024: Egypt receives $820 million following the Fund’s third loan review.
September 15, 2024: Egypt receives $1.216 billion following the fourth IMF loan review.
March 15, 2025: Egypt receives $1.216 billion following the fifth IMF loan review.
September 15, 2025: Egypt receives $1.216 billion following the International Monetary Fund’s sixth loan review.
March 15, 2026: Egypt receives $1.216 billion following the International Monetary Fund’s seventh loan review.
September 15, 2026: Egypt receives $1.216 billion following the eighth loan review from the International Monetary Fund.
1714186612
#billion #International #Monetary #Fund #Egypts #loan #tranches
