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

Intercontinental Monetary Fund logo is noticed inside of the headquarters at the finish of the IMF/Earth Lender yearly conferences in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas

CAIRO, July 27 (Reuters) – Egypt and the Global Financial Fund are speaking about remaining points in negotiations in excess of a new extended fund facility, Finance Minister Mohamed Maait advised Al-Arabiya on Wednesday.

Requested if there were being differences involving Egypt and the IMF, Maait explained: “In talks with any individual you go from 1 stage of view to another. The talks are ongoing, they created very, very great progress, we are discussing the remaining factors.”

On Tuesday, in an analysis of a $5.2 billion stand-by arrangement agreed with Egypt in 2020, the IMF said that the country wanted to make “decisive progress” on fiscal and structural reform. browse far more

The IMF also claimed that larger trade charge variability could have helped steer clear of a buildup of exterior imbalances and aid adjustment to financial shocks.

Reporting by Ahmed Tolba Producing by Nadine Awadalla modifying by Aidan Lewis and Grant McCool

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