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

Intercontinental Financial Fund logo is observed inside of the headquarters at the finish of the IMF/Globe Bank annual conferences in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas

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

Questioned if there ended up dissimilarities concerning Egypt and the IMF, Maait mentioned: “In talks with anybody you go from one particular position of view to one more. The talks are ongoing, they built pretty, incredibly good progress, 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 region essential to make “decisive progress” on fiscal and structural reform. go through additional

The IMF also claimed that higher trade price variability could have helped steer clear of a buildup of exterior imbalances and facilitate adjustment to economic shocks.

Reporting by Ahmed Tolba Creating by Nadine Awadalla editing by Aidan Lewis and Grant McCool

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