Egypt plans to conclude a non-financial agreement with the International Monetary Fund (IMF) by October, the country’s finance minister Mohamed Maait told Bloomberg TV.
This deal will replace the 2016 three-year loan accord that will expire in June, Maait added.
The new agreement, which might extend for two years, will “support Egypt’s vision for the coming period of enhancing growth and structural reforms,” he noted.
In February, Egypt received the fifth installment of the IMF loan, worth $2 billion, bringing the total amount received by the North African nation from the IMF to $10 billion since November 2016.
The last installment worth $2 billion is scheduled to be received by the end of 2019.