The IMF this week completed its second and final review of Egypt’s most recent economic reform program. As a result Cairo expects to next week receive an additional $1.7bn as part of a Stand-By Arrangement (SBA) agreed in June last year, with total disbursements reaching around $5.4bn (MEES, 12 June).
The SBA, which aimed at supporting “authorities’ economic reform program during the Covid-19 crisis,” came quick on the heels of a further $2.77bn Cairo received from the IMF via a Rapid Financing Instrument, agreed in May (MEES, 15 May). (CONTINUED - 337 WORDS)
