Reaching Final Agreement With IMF Is Imminent: Planning Minister Says

Dr Ashraf Al Araby, Egyptian Minister of Planning and International Cooperation, said the negotiations with the mission of the International Monetary Fund (IMF) over the $ 4.8 billion loan are perfectly continuing, and the ministerial group will attend the IMF’s meeting in Washington to resume the negotiations; affirming that the government will reach a final agreement over the loan within the coming few weeks.

Al Araby, during his meeting with the Egyptian Council for Foreign Affairs (EFCA), denied that the government failed in reaching an initial agreement with the IMF’s mission; affirming that the IMF’s administration is keen to support Egypt.

He elaborated that the IMF’s statement confirms the negotiations between the two sides, but it doesn’t mention any technical details.

As to implementing the economic reform program and its relation with the parliamentary elections, Al Araby said the government intends to achieve its economic reform program with the start of the new fiscal year; underscoring that the matter has no relation with the parliamentary elections.