IMF to vote on disbursement of final loan tranche to Egypt on July 24

CAIRO: The International Monetary Fund is due to vote on the disbursement of the final tranche of a 2016 $12 billion loan to Egypt on July 24, Prime Minister Mostafa Madbouly said on Wednesday.

The vote follows Egypt's decision earlier this month to implement the final round of fuel subsidy cuts, which raised domestic prices by between 16% and 30% to bring them into line with their real cost.