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Tuesday, 19 June 2018

On the horizon

IMF board to decide on disbursement of USD 2 bn ad tranche next week: The IMF’s executive board will meet on 27 June to review progress on Egypt’s economic reform program ahead of voting to disburse the fourth USD 2 bn tranche of Egypt’s USD 12 bn Extended Fund Facility. An IMF delegation that was in town last month reached a staff-level agreement to disburse the tranche following a positive review of progress on reforms. Former Finance Minister Amr El Garhy had said the tranche should be disbursed by the end of the month. The disbursement will bring the total amount Egypt has received under the facility to USD 8 bn.

The central bank’s Monetary Policy Committee meets on Thursday, 28 June to decide on interest rates.

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