Egypt, IMF working out ‘remaining points’ on loan -finance minister

Global Financial Fund brand is seen inside the headquarters at the finish of the IMF/World Lender yearly meetings in Washington, U.S., Oct 9, 2016. REUTERS/Yuri Gripas

CAIRO, July 27 (Reuters) – Egypt and the Intercontinental Monetary Fund are talking about remaining details in negotiations over a new prolonged fund facility, Finance Minister Mohamed Maait instructed Al-Arabiya on Wednesday.

Questioned if there had been differences between Egypt and the IMF, Maait claimed: “In talks with anybody you go from one level of check out to yet another. The talks are ongoing, they made pretty, pretty good development, we are speaking about the remaining points.”

On Tuesday, in an analysis of a $5.2 billion stand-by arrangement agreed with Egypt in 2020, the IMF stated that the place desired to make “decisive development” on fiscal and structural reform. go through a lot more

The IMF also claimed that greater exchange charge variability could have aided steer clear of a buildup of exterior imbalances and facilitate adjustment to financial shocks.

Reporting by Ahmed Tolba Crafting by Nadine Awadalla enhancing by Aidan Lewis and Grant McCool

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