The International Monetary Fund said Tuesday it completed its fourth review of Egypt’s economic reform program approving a $1.2 billion disbursement for the North African country. The IMF said in a statement it completed its fourth review on Monday and Egyptian authorities can immediately draw the funds.

The International Monetary Fund has approved the disbursement of $1.2 billion to Egypt after completing the fourth review of the country's $8 billion economic reform programme with the lender.