Egypt expects second installment of IMF loan in second half of June

Cairo: Egypt expects to receive the second installment of its loan from the International Monetary Fund (IMF) in the second half of June, Finance Minister Amr El-Garhy said on Sunday.
He told a news conference that the IMF's review of Egypt's economic reforms was going well.
The IMF approved a $12-billion, three-year loan programme to Egypt in November and paid out $2.75 billion of the first $4 billion tranche of the loan. An IMF team is in Cairo this week conducting a review of Egypt's reform efforts to decide when the next $1.25 billion will be disbursed.