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IMF delegation in Cairo to discuss Egypt lending to $ 12 billion
The Egyptian Ministry of Finance, said on Sunday that a delegation from the International Monetary Fund in Cairo to discuss the Egyptian economic reform program before the second tranche of the Fund's loan amounting to $ 12 billion disbursed.
The ministry said in a statement seen by "Economy News," The visit of the IMF mission will continue until the atheist th of May during which he will meet with officials from the ministry and the Central Bank.
In November, Egypt approved a loan program with the Fund for a three-year following the liberation of the currency exchange rate in a move designed to attract cash flows from abroad and boost exports after the chronic shortage of dollars.
Egypt has pledged a series of reforms, including reducing the deficit in the budget to be able to get the loan.
Cairo got the first installment of the loan worth $ 2.75 billion in November, shortly after the conclusion of the agreement.
Egypt said it expects the second tranche disbursement and 1.25 billion in May or June after completing a review of the Fund.
In the framework of Egypt's reform efforts implemented value-added tax collected four billion of dollar bonds raised in global markets bonds and received a high demand exceeded supply.
Egypt has developed a program for the reform of fuel subsidies and electricity system and is preparing for the privatization of a number of banks and state-owned energy.
http://economy-news.net/content.php?id=7367
The Egyptian Ministry of Finance, said on Sunday that a delegation from the International Monetary Fund in Cairo to discuss the Egyptian economic reform program before the second tranche of the Fund's loan amounting to $ 12 billion disbursed.
The ministry said in a statement seen by "Economy News," The visit of the IMF mission will continue until the atheist th of May during which he will meet with officials from the ministry and the Central Bank.
In November, Egypt approved a loan program with the Fund for a three-year following the liberation of the currency exchange rate in a move designed to attract cash flows from abroad and boost exports after the chronic shortage of dollars.
Egypt has pledged a series of reforms, including reducing the deficit in the budget to be able to get the loan.
Cairo got the first installment of the loan worth $ 2.75 billion in November, shortly after the conclusion of the agreement.
Egypt said it expects the second tranche disbursement and 1.25 billion in May or June after completing a review of the Fund.
In the framework of Egypt's reform efforts implemented value-added tax collected four billion of dollar bonds raised in global markets bonds and received a high demand exceeded supply.
Egypt has developed a program for the reform of fuel subsidies and electricity system and is preparing for the privatization of a number of banks and state-owned energy.
http://economy-news.net/content.php?id=7367
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