The Executive Board of the International Monetary Fund (IMF) included Egypt on the agenda of its meeting scheduled for March 10th, to disburse the fourth tranche of $1.2 billion from the loan granted to Egypt.
The IMF’s Executive Board of Directors is scheduled to approve Egypt’s file during its meeting in Washington, D.C., which includes the fourth review that was recently approved at the expert level, in preparation for the disbursement of this tranche, with expectations that it will be transferred to the Central Bank of Egypt during the same month.
Informed sources speaking to Al-Masry Al-Youm newspaper expected that the Resilience and Sustainability Trust funding, amounting to $1.3 billion, will be disbursed in tranches.
The board is expected to discuss the results of both the Article IV consultations, which Egypt has completed, and the fourth review of the Extended Credit Facility, which will result in the disbursement of the fourth tranche of $1.2 billion.
Minister of Finance, Ahmed Kojok, said in previous statements that the IMF will review the entire Egyptian file regarding the fourth review and others, and that there are expected to be positive news from the Fund towards Egypt soon.
In the same context, sources expected that the fourth tranche of the Fund’s loan, amounting to $1.2 billion, will be disbursed, in addition to the approval of the $1.3 billion funding and its tranches and disbursement schedules from the new Resilience and Sustainability Trust, with the meeting of the Fund’s Executive Board of Directors scheduled for March 10th.
The Article IV consultations are an essential part of the IMF’s work, as the Fund conducts a periodic review of the economic situation in each of its 191 member countries.
