Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » IMF official says Egypt’s next review at end-June 2024

    IMF official says Egypt’s next review at end-June 2024

    April 2, 2024
    Share
    Facebook Twitter LinkedIn WhatsApp
    Cairo — The next review of Egypt’s IMF loan programme should be completed by the end of June, when authorities will be able to draw on a further $820 million, an IMF official said on Monday, after an expanded loan programme was agreed last month.
    Further reviews will be completed every six months, and those will each unlock disbursements of $1.3 billion, mission chief Ivanna Vladkova Hollar said in a news conference.

    An initial payment of $820 million would be received this week, after the completion of delayed reviews last month, Egypt’s prime minister  said on Friday.

    A additional loan from the IMF’s Resilience and Sustainability Facility would be discussed during the next review, Vladkova Hollar said. The final review of the loan programme would be in the final months of 2026, she added.
    Egypt’s inflation forecast is expected to remain high in the near term, with average inflation for the next fiscal year forecast at 25.5%, she said.

    The country, whose budget has been stretched in recent years, needs to replace untargeted fuel subsidies with targeted social spending, she said.

    Reporting by Patrick Werr and Nafisa Eltahir; Additional reporting by Jana Choukeir and Clauda Tanios; Editing by Alison Williams and Barbara Lewis – Reuters

    Related News

    FG, States, LGCs share N1.659 revenue in May 2025

    FAAC disburses N1.659trn for May as VAT, CIT revenues surge

    OPEC Fund commits $1bn in new financing for developing nations

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    FG, States, LGCs share N1.659 revenue in May 2025

    June 22, 2025

    Military efforts slash crude oil theft, as Minister hails Armed Forces

    June 22, 2025

    Nigerian Navy cracks down on oil theft, arrests 76 vessels in two years

    June 22, 2025

    Rivers, Bayelsa left out as FG delivers life jackets to Kwara over boat mishaps

    June 22, 2025

    Nigeria commits $200m to health, eyes BRICS partnerships

    June 22, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.