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Egypt expects IMF loan final tranche in July - deputy finance minister

Egypt expects IMF loan final tranche in July - deputy finance minister

Cairo:  Egypt expects, in principle, to receive the final tranche of about $2 billion of its IMF loan in July, Deputy Finance Minister Ahmed Kouchouk said on Tuesday.

The International Monetary Fund offered the three-year $12 billion loan programme in 2016 after Cairo agreed to a reform package including a steep devaluation of the pound, deep cuts to energy subsidies and the introduction of a value-added tax. Source: Zawya

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