Egypt can now “immediately draw” an initial $820mn tranche of an $8bn IMF rescue program after the fund’s Executive Board completed its long-delayed first and second reviews of a 2022 Extended Fund Facility (EFF), the international lender said on 29 March.
A second tranche of the same amount is expected to be released after the IMF completes its third quarterly review of the 46-month facility in June, IMF Egypt mission chief Ivanna Hollar said at a press conference on 1 April. (CONTINUED - 1631 WORDS)
