A delegation of the International Monetary Fund (IMF) will visit Egypt in the first week of November to resume talks over a new loan agreement in US dollars, Akhbar Al Yom reported on October 22nd, citing the IMF’s Director for the Middle East and Central Asia Jihad Azour.
It is worth noting that the Central Bank of Egypt (CBE) and the Ministry of Finance have reached an agreement with the IMF on the policies and restructuring of the new Egyptian economic reform program.
On October 15th, the IMF’s Director of Communications Gerry Rice revealed in a statement that Egyptian authorities and the staff of the IMF agreed to finalize their negotiations in preparation for reaching a staff-level agreement very soon.
The IMF’s staff and the Egyptian team have made “substantial progress” regarding all policies, Rice added.
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