IMF to disburse about USD 2.03 bln for Egypt

WASHINGTON, Dec 20 (KUNA) -- The International Monetary Fund (IMF) on Wednesday completed the second review of Egypt's economic reform program supported by an arrangement under the Extended Fund Facility (EFF).
The IMF said in a statement that the completion of the review allows the authorities to draw about USD 2.03 billion, bringing total disbursements to about USD 6.08 billion.
In July, the IMF had completed the first review of Egypt's economic reform program allowing the authorities to draw about USD 1.25 billion, bringing total disbursements then to about USD four billion.
The three-year EFF arrangement of about USD 12 billion at the time of approval was approved by the Executive Board in November 2016 "to support the authorities' economic reform program." (end) si.ibi