Egypt reached a staff-level agreement with the IMF yesterday on the fifth USD2bn tranche of its USD12bn extended fund facility after a delegation led by Egypt Mission Chief Subir Lall completed its fourth review of the government’s economic reform programme. The delegation found that “the Egyptian economy continued to perform well, despite less favorable global conditions, supported by the authorities’ strong implementation of the reform program,” Lall said in a statement issued Wednesday. The amount will be disbursed after the IMF’s Executive Board signs off on the agreement, bringing the total payments made under the programme to USD10bn.