Skip to content
Subscriber Only

IMF Approves Last Installment of $12 Billion Loan to Egypt

  • Egypt expects the $2 billion payment transferred this week
  • The three-year program helped Egypt overcome economic crisis
Pedestrians pass among market stalls in Cairo.
Photographer: Sima Diab/Bloomberg
Updated on

The International Monetary Fund said it has approved the last installment of a $12 billion loan to Egypt, marking the end of a three-year program that helped the Arab country overcome a crippling dollar shortage but drew criticism for painful austerity measures.

The final payment of $2 billion will be transferred this week, Egyptian central bank Governor Tarek Amer told Bloomberg.