According to a government official who spoke to Asharq, the postponement will occur until certain conditions are fulfilled.
The International Monetary Fund (IMF) postponed the discussion of disbursing the third tranche of the loan granted to Egypt worth $820 million to July 29, according to IMF Egypt Mission Chief, Ivanna Vladkova Hollar who spoke to Asharq Bloomberg.
According to a government official who spoke to Asharq, the postponement will occur until certain conditions are fulfilled.
The official emphasized that these conditions are basic requirements set by the Fund, and they will be elaborated upon in the near future.
It is worth noting that the IMF's mission visited Cairo last May, to conduct the third review of the economic reform program.
According to the IMF report last April, Egypt has achieved 7 out of the 15 structural benchmarks/commitments outlined in its ongoing $8 billion Extended Fund Facility (EFF) loan program with the IMF.
In late March, the IMF's Executive Board extended a $5 billion package for Egypt's loan, completing the long-awaited first and second reviews, enabling Egypt to access $820 million.
In March, Prime Minister, Mostafa Madbouly, stated that Egypt signed an agreement with the International Monetary Fund (IMF) to raise its current $3 billion deal to $8 billion.
