{"id":571281,"date":"2020-05-06T04:02:18","date_gmt":"2020-05-06T04:02:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/06\/first-tranche-of-fresh-imf-funding-to-land-on-monday-report\/"},"modified":"2020-05-06T04:02:18","modified_gmt":"2020-05-06T04:02:18","slug":"first-tranche-of-fresh-imf-funding-to-land-on-monday-report","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/06\/first-tranche-of-fresh-imf-funding-to-land-on-monday-report\/","title":{"rendered":"First tranche of fresh IMF funding to land on Monday -report"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>First tranche of fresh IMF funding to land on Monday -report: <\/strong>The government will receive USD 2.7 bn from the International Monetary Fund (IMF) next Monday as a first tranche of funding to help it withstand the global economic shock caused by the covid-19 pandemic, <a href=\"https:\/\/bit.ly\/2L5ZOgx\">Masrawy<\/a> reports, citing an unnamed central bank official. Authorities last month <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8321e1c8-48bf-428a-9d60-5ccb9c91d648\">asked the fund<\/a> for a one-year rapid financing instrument (<a href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Sheets\/2016\/08\/02\/19\/55\/Rapid-Financing-Instrument\">RFI<\/a>) to help plug shortfalls in the country\u2019s balance of payments and a separate stand-by arrangement (<a href=\"https:\/\/www.imf.org\/en\/About\/Factsheets\/Sheets\/2016\/08\/01\/20\/33\/Stand-By-Arrangement\">SBA<\/a>) to support fiscal reform.<\/p>\n<p><strong>Did Ahmed Moussa get it right on the new IMF package? <\/strong>We\u2019re yet to hear anything official about the final size of the funding package, but <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/358ad069-c42b-4ace-ac29-5588a47988aa\">TV show host Ahmed Moussa suggested<\/a> that <strong>authorities are seeking north of USD 7 bn to help them through the crisis<\/strong>. We were fairly sceptical at the time, but Masrawy\u2019s source has corroborated one of Moussa\u2019s claims: that a USD 2.7 bn tranche would be delivered as early as 10 May. Moussa also said that a second tranche will arrive on our shores in June.<\/p>\n<p><strong>The IIF thinks we\u2019re likely to receive around USD 8.4 bn: <\/strong>The Institute of International Finance (IIF) wrote in <a href=\"https:\/\/www.iif.com\/Research\/Regional-Country\/MENAP-Central-Asia\/Egypt\">a note on Sunday<\/a> that the IMF is likely to lend us a total of USD 8.4 bn through the RFI and SBA facilities. The fund will extend a USD 2.8 bn loan (100% of quota) under the RFI which will allow the government to ramp up health and welfare spending, provide relief to SMEs, and bolster foreign reserves, the IIF wrote. The IMF will also likely approve a two-year SBA giving Egypt access to funds worth 200% of its quota (around USD 5.6 bn). How much we end up receiving from the SBA would \u2014 in a similar fashion to the recent USD 12 bn extended fund facility \u2014 depends on financing needs, repayment capacity, and our track record in using previous IMF funds. The conditions, however, would be much less stringent than under the EEF, with the SBA having a shorter repayment period and fewer conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>First tranche of fresh IMF funding to land on Monday -report: The government will receive USD 2.7 bn from the International Monetary Fund (IMF) next Monday as a first tranche of funding to help it withstand the global economic shock caused by the covid-19 pandemic, Masrawy reports, citing an unnamed central bank official. Authorities last [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":571282,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[4865,107,7106,72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-571281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-bailout","tag-covid-19","tag-debt","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"4bd90971-89ac-402a-95c9-174eb7fcae89","is_powered_by":true,"section_story_id":"8dc78446-e13d-4a25-b20d-ff1e77989f2b","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/5\/47.jpg","photo_position":"above","related_issue":[571273],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>First tranche of fresh IMF funding to land on Monday -report - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/05\/06\/first-tranche-of-fresh-imf-funding-to-land-on-monday-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First tranche of fresh IMF funding to land on Monday -report\" \/>\n<meta property=\"og:description\" content=\"First tranche of fresh IMF funding to land on Monday -report: The government will receive USD 2.7 bn from the International Monetary Fund (IMF) next Monday as a first tranche of funding to help it withstand the global economic shock caused by the covid-19 pandemic, Masrawy reports, citing an unnamed central bank official. 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Egypt applied last month for new funding via a one-year rapid financing instrument (RFI) and a stand-by arrangement (SBA) to help support\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/71.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571518,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/14\/egypt-wants-usd-9-bn-in-funding-from-imf-other-intl-lenders\/","url_meta":{"origin":571281,"position":1},"title":"Egypt wants USD 9 bn in funding from IMF + other int\u2019l lenders","author":"enterpriseam admin","date":"14 May 2020","format":false,"excerpt":"Egypt is lining up another USD 9 bn from int\u2019l lenders to plug budget deficit, shore up reserves: The Madbouly government is in talks with international lenders for an additional USD 9 bn to help it plug its budget deficit as it spends bns to fight covid-19, Bloomberg reports, citing\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/154.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571948,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/07\/imf-gives-initial-nod-to-usd-5-2-bn-in-fresh-funding-to-egypt\/","url_meta":{"origin":571281,"position":2},"title":"IMF gives initial nod to USD 5.2 bn in fresh funding to Egypt","author":"enterpriseam admin","date":"7 June 2020","format":false,"excerpt":"IMF gives initial nod to USD 5.2 bn in fresh funding to Egypt: The IMF reached a staff-level agreement to provide Egypt with a one-year, USD 5.2 bn stand-by arrangement (SBA) to help the country withstand the economic fallout from the covid-19 pandemic, according to a statement on Friday. The\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/71.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599518,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/egypt-to-receive-the-fifth-tranche-of-imf-facility-this-month\/","url_meta":{"origin":571281,"position":3},"title":"Egypt to receive the fifth tranche of IMF facility this month","author":"enterpriseam admin","date":"2 January 2019","format":false,"excerpt":"Egypt to receive the fifth tranche of IMF facility this month: The country will receive the next USD 2 bn tranche of the IMF\u2019s extended fund facility this month, Ittihadiya said in a statement quoting Central Bank of Egypt Governor Tarek Amer\u2019s note to President Abdel Fattah El Sisi. The\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598213,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/19\/egypt-imf-reach-staff-level-agreement-to-unlock-final-tranche-of-usd-12-bn-facility\/","url_meta":{"origin":571281,"position":4},"title":"Egypt, IMF reach staff-level agreement to unlock final tranche of USD 12 bn facility","author":"enterpriseam admin","date":"19 May 2019","format":false,"excerpt":"Egypt, IMF reach staff-level agreement to unlock final tranche of USD 12 bn facility: Egypt has reached a staff-level agreement with the IMF over the disbursement of the sixth and final USD 2 bn tranche of its USD 12 bn extended fund facility, according to a statement issued by the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605177,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/24\/egypt-is-not-receiving-fifth-imf-tranche-this-month-but-reforms-arent-delayed\/","url_meta":{"origin":571281,"position":5},"title":"Egypt is not receiving fifth IMF tranche this month, but reforms aren\u2019t delayed","author":"enterpriseam admin","date":"24 December 2018","format":false,"excerpt":"EXCLUSIVE- Egypt won\u2019t be receiving the fifth tranche of its IMF facility this month \u2014 but reforms aren\u2019t being delayed, either: The Madbouly government is not in talks with the IMF to delay any part of its reform agenda, a senior government official tells Enterprise, denying a report in the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/571281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=571281"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/571281\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/571273"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/571282"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=571281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=571281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=571281"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=571281"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=571281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}