Egypt Moves Closer to Signing a New Loan Program with IMF ...Egypt

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Egypt Moves Closer to Signing a New Loan Program with IMF
Photo: Mohamed Abd El Ghany / REUTERS Egypt and the International Monetary Fund (IMF) have resolved major policy issues and will meet again on Saturday to finalize the loan – where IMF provides financing to member countries – programme, IMF Managing Director Kristalina Georgieva said. The two sides are still in the process of determining the Egyptian exchange rate policies, as the IMF previously said in a statement in March that Egypt should pursue continued exchange rate flexibility to absorb external shocks and safeguard financial buffers. In July, the IMF said that Egypt needed to make “decisive progress” on fiscal and structural reform to foster private sector development and reduce t

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