IMF and Egypt agree to take steps to reach staff-level agreement on rescue loan soon – The National

IMF and Egypt agree to take steps to reach staff-level agreement on rescue loan soon – The National

The International Monetary Fund (IMF) and Egypt have agreed to finalise work to reach a staff-level agreement on a loan “very soon”, the multilateral lender said on Saturday.

“IMF staff and the Egyptian authorities have held very productive in-person discussions on the margins of the IMF and World Bank annual meetings and made substantial progress on all policies,” Gerry Rice, director of communications at the IMF, said.

“The implementation of the authorities’ comprehensive structural reform agenda would gradually enhance the competitiveness of the economy, reduce the role of the state in the economy, level the playing field for the private sector, improve the business climate and foster transition towards a greener economy.”