Cairo (June) – The International Monetary Fund and Egypt have reached an agreement at the expert level regarding the disbursement of a tranche worth two billion dollars from the loan program, according to a statement issued by the fund today, Friday. The total disbursed amounts, within the framework of the program, will be paid to about six billion dollars, as the disbursement of the new payment is subject to the approval of the Fund’s Executive Board. In the same context, Egypt is moving forward in implementing an ambitious economic reform package, within the framework of the loan agreement. Last November, the International Monetary Fund agreed with Egypt on a $12 billion loan, to be granted over three years, to support the government's economic programme. (End) h p
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