 "IMF says Egypt can draw final $2 billion from $12 billion loan programme")
WASHINGTON (Reuters) - The International Monetary Fund said on Wednesday its board completed the fifth and final review of Egypt’s $12 billion loan programme, allowing authorities in Cairo to draw another $2 billion in funds.
The disbursement will complete the amount approved under the three-year extended fund facility programme launched in November 2016.
“Egypt has successfully completed the three-year arrangement under the Extended Fund Facility and achieved its main objectives,” IMF Acting Managing Director David Lipton said in a statement. “The macroeconomic situation has improved markedly since 2016, supported by the authorities’ strong ownership of their reform programme and decisive upfront policy actions.”
(Reporting by David Lawder; Editing by Richard Chang)
This story has not been edited by Firstpost staff and is generated by auto-feed.
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