Egypt receives $820M in 3rd tranche of IMF’s EFF

Updated 8/4/2024 7:04:00 AM
Egypt receives $820M in 3rd tranche of IMF’s EFF

Arab Finance: Egypt received the third tranche worth $820 million of the International Monetary Fund’s (IMF) $8 billion Extended Fund Facility (EFF) arrangement on August 1st, Prime Minister Mostafa Madbouly stated.

The announcement came during the first meeting of the Coordination Council for Financial and Monetary Policies in its new formation.

On July 29th, the IMF’s Executive Board completed the third review of Egypt’s $8 billion EFF arrangement, allowing the Egyptian authorities to draw around $820 million immediately.

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