Egypt can expect to receive the second USD 1.25 bn tranche of the USD 12 bn IMF extended fund facility sometime in June after a review that had been set for March was tentatively postponed to April, Egypt mission chief Chris Jarvis tells Al Shorouk. The delegation — which will assess the Ismail government’s progress on its economic reform program as a condition for disbursing the tranche — will need between 6-8 weeks to prepare and process its report after the visit. Finance Minister Amr El Garhy and Deputy Finance Minister Amr El Monayer told us on Sunday that the visit was postponed to allow the ministry time to focus on finalizing and delivering the FY2017-18 state budget to the House of Representatives by the end of March. Egypt and the IMF had never fixed a date for the disbursement of the second tranche.

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