#12bn loan
The International Monetary Fund (IMF) said on Friday that after its second review of Egypt’s progress on its economic reforms it has agreed to a disbursement of a $2 billion loan, part of the $12bn loan package negotiated with Cairo last year. Although the agreement has to be approved by the IMF’s executive board before the latest tranche is transferred, a delegation who recently visited Egypt said in a statement that the deal “reaffirms the authorities’ commitment to their reform program…