Egypt expects to receive second tranche of the IMF loan in May or June-fin min - Zawya Projects

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Egypt expects to receive second tranche of the IMF loan in May or June-fin min

Egypt agreed with the IMF in November on a $12bln three-year loan programme to support government efforts to reduce its budget deficit and balance its currency market.
CAIRO, March 16 (Reuters) - Egypt expects to receive the second tranche of a $12 billion International Monetary Fund loan in May or June, Finance Minister Amr El-Garhy told Reuters on Thursday.

Egypt agreed with the IMF in November on a $12 billion three-year loan programme to support government efforts to reduce its budget deficit and balance its currency market.

(Reporting by Ehab Farouk; Writing by Asma Alsharif; Editing by Randy Fabi) ((asma.alsharif@thomsonreuters.com; +20225783290; Reuters Messaging: asma.alsharif.reuters.com@reuters.net))