Egypt, IMF working out ‘remaining points’ on loan -finance minister
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Global Monetary Fund brand is found inside the headquarters at the close of the IMF/World Financial institution yearly conferences in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas
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CAIRO, July 27 (Reuters) – Egypt and the Global Monetary Fund are speaking about remaining details in negotiations above a new extended fund facility, Finance Minister Mohamed Maait informed Al-Arabiya on Wednesday.
Asked if there were dissimilarities concerning Egypt and the IMF, Maait reported: “In talks with any individual you go from one stage of view to a further. The talks are ongoing, they produced really, pretty superior progress, we are talking about the remaining details.”
On Tuesday, in an evaluation of a $5.2 billion stand-by arrangement agreed with Egypt in 2020, the IMF claimed that the country wanted to make “decisive development” on fiscal and structural reform. read through a lot more
The IMF also reported that greater exchange fee variability could have assisted steer clear of a buildup of external imbalances and aid adjustment to financial shocks.
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Reporting by Ahmed Tolba Crafting by Nadine Awadalla editing by Aidan Lewis and Grant McCool
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