The IMF will issue a report on its second review of Egypt’s economic reform program within the coming few weeks, Egypt Mission Chief Subir Lall told Al Mal. The IMF’s executive board had agreed last month to disburse USD 2.03 bn of Egypt’s USD 12 bn extended fund facility after concluding its review, which found that reform measures are “yielding encouraging results.” The tranche, which could be issued as early as this month, would bring total disbursements up to around USD 6.08 bn.

Prime Minister Sherif Ismail is said to be returning to work within a week. It’s rumored that Ismail has been on the mend since his return from Germany last month and has already started working from home.

US Vice President Mike Pence will stop in Egypt on 20 January to meet with President Abdel Fattah El Sisi as part of a regional tour that will also take him to Jordan and Israel.

(Pence’s visit comes after the US has informed Palestinian aid agency UNRWA that it is freezing USD 65 mn in funding, pending “some reforms” of how the organization operates, Department of State spokesperson Heather Nauert said at a press briefing yesterday. Nauert admitted that the decision was partially fueled by the backlash to the US’ Jerusalem declaration.)

Arab League member states are scheduled to meet less than two weeks after Pence’s visit to discuss how best to counter US President Donald Trump’s Jerusalem declaration.