The Board of Directors of the International Monetary Fund (IMF) will meet on December 20th to discuss the IMF’s second review of Egypt’s economic reform, Daily News Egypt reports.
Egypt expects to receive the next installment of its $12 billion loan from the IMF this month. The Minister of Finance, Amr El Garhy, previously indicated that Egypt could receive it during the third week of December, according to Amwal Al Ghad.
The installment is worth approximately $2 billion and will bring the total amount that Egypt has received from the IMF to approximately $6 billion, Amwal Al Ghad previously reported.
Disbursement of the funds, however, is still pending final IMF approval.
An IMF delegation was in Egypt from October 25th to November 9th to conduct the review, Daily New Egypt notes.