June 29, 2018 / 10:59 PM / 10 months ago

CORRECTED-IMF says approves further $2.02 bln of $12 bln loan to Egypt

(Corrects payment number in paragraph 1 to the fourth, not the third payment)

CAIRO, June 29 (Reuters) - The International Monetary Fund said on Friday it approved a fourth payment, worth $2.02 billion, of a $12 billion loan as part of an economic reform programme being carried out by Cairo.

The latest payment brings the total received by Egypt from the IMF to around $8 billion, it said.

As part of the loan agreement, Egypt has enacted tough austerity measures including a flotation of its pound currency in late 2016 which halved its value, and sharp fuel and electricity cuts in recent weeks. (Reporting by John Davison and Ahmed Tolba)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below