IMF reaches staff agreement for $2 billion disbursement to Egypt


  • World
  • Thursday, 01 Nov 2018

FILE PHOTO: People hold Egyptian flags as they wait to cast their votes during the presidential election in Cairo, Egypt, March 26, 2018. REUTERS/Amr Abdallah Dalsh

WASHINGTON (Reuters) - The International Monetary Fund has reached a staff-level agreement with Egypt to disburse another $2 billion (£1.5 billion) from the country's $12 billion extended fund facility, it said on Tuesday.

The funds will be available upon IMF executive board approval of a fourth review of the three-year programme, the organisation said in a statement.

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