CABINET WATCH- Cabinet discusses IMF review, staff-level agreement to disburse fifth tranche: The Madbouly Cabinet discussed during its weekly meeting on Thursday a staff-level agreement Egypt reached with the IMF last week to disburse the fifth USD 2 bn tranche of its USD 12 bn extended fund facility, according to a Cabinet statement. The fifth tranche will bring the total payments disbursed under the facility to USD 10 bn in two years.

The ministers also ratified a 2017 decision to establish the SME Development Authority, which then-Prime Minister Sherif Ismail decided would replace the Social Fund for Development. Cabinet also discussed trade liberalization and the establishment of a Retail Syndicate.

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