Egyptian government denies requesting IMF’s 4th loan tranche increase to $2bln

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The Egyptian authorities did not request an increase in the fourth tranche of its loan program with the International Monetary Fund (IMF) to $2 billion, the Cabinet’s media center confirmed in a statement.

This clarification denies reports in some media outlets that claimed Egypt asked the IMF to raise the tranche from $1.3 billion to $2 billion, affirming that these claims are entirely false.

The media center suggested that such reports are merely attempts to spread rumors and misinformation among citizens, urging media outlets to verify information from reliable sources before publication.

Earlier on November 12th, Asharq Business reported that Egypt requested the IMF to raise the upcoming fourth tranche of its loan package from $1.3 billion to $2 billion.

It is worth noting that Prime Minister Mostafa Madbouly recently met with IMF Managing Director Kristalina Georgieva during the COP29 conference in Azerbaijan.

During the meeting, Georgieva praised Egypt’s progress in implementing economic reforms, acknowledging the country’s visible efforts in this regard.