Egypt prime minister Moustafa Madbouly on 1 August confirmed that Cairo had received the third $820mn tranche of its $8bn IMF loan agreed in March (MEES, 8 March).
This follows the IMF board’s approval of the tranche at its 29 July board meeting. This approval had been put on hold for more than two weeks as the IMF waited for Egypt to move on stalled gasoline and diesel price rises (MEES, 26 July). (CONTINUED - 70 WORDS)