BREAKING NEWS

BREAKING NEWS

IMF reaches staff agreement for $2 billion disbursement to Egypt

IMF reaches staff agreement for $2 billion disbursement to Egypt
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 -
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Amr Dalsh(Reuters)
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WASHINGTON (Reuters) - The International Monetary Fund said on Tuesday it had reached a staff-level agreement with Egypt to disburse another $2 billion (£1.5 billion) in funds from the country's $12 billion extended fund facility arrangement.

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

(Reporting by David Lawder, Editing by Rosalba O'Brien)

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