Thursday 21 Nov
Informed sources familiar with the ongoing fourth review between Egypt and the International Monetary Fund (IMF) revealed today, Tuesday, that Egypt has requested an increased disbursement of $2 billion for the fourth tranche of the $8 billion loan, up from the original $1.3 billion.
This increased allocation is anticipated to be the largest tranche among the various tranches of the loan, which has a total value of 8 billion dollars, and is scheduled to be released following the completion of the current review process, which was initiated after IMF Managing Director Kristalina Georgieva’s visit to Cairo last week.
The Egyptian government has justified this request by highlighting its significant progress in implementing economic reforms, despite regional challenges. Georgieva has publicly acknowledged these efforts, praising the government’s dedication during her Cairo visit and recent meeting with Prime Minister Dr. Moustafa Madbouly in Baku.
As a reference, the third tranche of the loan, approved in May, amounted to $820 million.
