Egypt’s finance minister expects disbursal of $1.6 billion of IMF funding by end-December

FILE PHOTO: Egyptian Finance Minister Mohamed Maait speaks during a news conference in Cairo, July 5, 2018. REUTERS/Mohamed Abd El Ghany

CAIRO (Reuters) – Egypt expects to receive a $1.6 billion disbursal from the International Monetary Fund by end-December, Finance Minister Mohamed Maait said on Monday.

The IMF said earlier this month it had reached a staff-level agreement with Egypt after the first review of a $5.2 billion financing agreement.

Reporting by Nadine Awadalla and Nayera Abdullah; Editing by Leslie Adler