IMF to Transfer $1.6B to Egypt

The Director of Communications at the International Monetary Fund confirmed that discussions with Egyptian authorities regarding the seventh review of the Extended Fund Facility program worth $8 billion, as well as other support programs, are progressing positively, with the possibility of approximately $1.6 billion being disbursed to Egypt during the upcoming summer. The Fund is working on a schedule aimed at convening Board meetings soon to support the financing of the Egyptian government and to achieve its developmental and economic objectives.