Egypt to receive first payment of IMF loan in three monthsSource: www.export-egypt.com 7/29/2016, Location: Africa |
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 Finance Minister Amr el Garhi said that Egypt is expected to receive three billion dollars, the first batch of an International Monetary Fund (IMF) loan, in the second quarter of this fiscal year.
Speaking to Al Akhbar newspaper, the minister said Egypt is seeking a 21-billion-dollar aid package needed to bridge the gap of finance, including 12 billion dollars from the IMF. The first payment would be delivered within three months and approved after the value-added tax law is passed, he said. A delegation from the IMF will visit Egypt for more negotiations on the timing of the money delivery, he added. |
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