CAIRO May 12 The International Monetary Fund
said on Friday it had reached a staff-level agreement with Egypt
on a second loan instalment that would make available about
In a statement at the conclusion of an IMF mission to Egypt,
team leader Chris Jarvis said: "The IMF staff team and the
Egyptian authorities have reached a staff-level agreement on the
first review of Egypt's economic reform programme supported by
the IMF's $12 billion arrangement. The staff level agreement is
subject to approval by the IMF's Executive Board."
Jarvis said in a statement that completion of the review
would make available about $1.25 billion, bringing total
disbursements under the programme to about $4 billion.
(Reporting by Giles Elgood; Editing by Hugh Lawson)