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Egypt expects 5th part of IMF loan in January

The International Monetary Fund (IMF) logo. [Photo: Courtesy]

CAIRO- Egypt expects to receive the fifth instalment of its $12 billion (Sh1.22 trillion) IMF loan programme in January, the president’s office said on Sunday.

The International Monetary Fund offered the three-year loan programme in 2016 after Egypt agreed to a package of reforms including the devaluation of the pound, cuts to energy subsidies and the introduction of a value-added tax.

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