{"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":621231,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/04\/cabinet-discusses-imf-review-staff-level-agreement-to-disburse-fifth-tranche\/","url_meta":{"origin":571281,"position":1},"title":"Cabinet discusses IMF review, staff-level agreement to disburse fifth tranche","author":"enterpriseam admin","date":"4 November 2018","format":false,"excerpt":"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\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":647801,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/21\/imf-to-disburse-next-eff-tranche-to-egypt-by-mid-june\/","url_meta":{"origin":571281,"position":2},"title":"IMF to disburse next EFF tranche to Egypt by mid-June?","author":"enterpriseam admin","date":"21 May 2017","format":false,"excerpt":"The IMF\u2019s Executive Board is expected review before mid-June its staff-levelagreement with Egypt on the next USD 1.25 bn tranche of Egypt\u2019s USD 12 bn extended fund facility, Finance Ministry officials tell Al Borsa. IMF Egypt Mission Chief Chris Jarvis had said last week that the board would meet sometime\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":3},"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":[]},{"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":4},"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":627342,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/30\/fifth-imf-loan-tranche-to-be-disbursed-in-early-2019-maait\/","url_meta":{"origin":571281,"position":5},"title":"Fifth IMF loan tranche to be disbursed in early 2019 -Maait","author":"enterpriseam admin","date":"30 July 2018","format":false,"excerpt":"Egypt is expected to receive the fifth tranche of its USD 12 bn extended fund facility from the IMF in early 2019, Finance Minister Mohamed Maait told Al Mal yesterday. An IMF delegation is scheduled to visit in November to conduct a fourth review of the economic reform agenda ahead\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}]}}