Egypt says it will receive the next $2-billion installment of a $12-billion loan from the International Monetary Fund (IMF) in the second half of July, newspaper Al-Masry Al-Youm reported on Tuesday.
The paper quoted Finance Minister Mohamed Maait as saying this would be the fourth installment of the loan, agreed in late 2016, and would bring the total Cairo has received so far to $8-billion.
The IMF loan requires Egypt to enact tough economic austerity measures. The latest fiscal reforms have included sharp cuts to electricity and fuel subsidies.
The finance ministry previously said the latest payment was expected in June or July.
EMAIL THIS ARTICLE SAVE THIS ARTICLE
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
