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Egypt's next IMF tranche in doubt amid slow reforms - Egypt Independent
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The International Monetary Fund (IMF) has announced the postponement of the review of the fifth tranche of its $8 billion loan to Egypt. Calling for reforms, the IMF decided to merge the fifth tranche with the sixth, stressing the need for additional time to complete key policies, particularly those related to the role of the state in the economy. IMF Communications Director Julie Kozack said at a press conference that the two reviews will be in…
Egypt's next IMF tranche in doubt amid slow reforms - Egypt Independent
Unexpected developments regarding Egypt’s fifth tranche of the International Monetary Fund (IMF) loan suggest that slow progress on structural reforms could lead the Fund to merge the fifth and sixth reviews. This move threatens to delay the disbursement of a new loan installment for up to six full months. Three sources informed Al-Masry Al-Youm that an IMF mission arrived in Cairo last May to begin the fifth review of the 46-month, eight billio…
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