Egypt Denies Reports about New Talks with IMF

Big 5

Egypt’s Finance Ministry has rebutted recent reports about resuming negotiations with the International Monetary Fund (IMF).

Finance Minister Hany Qadry stressed that the government is seeking to carry out financial and economic reforms with the aim of the best interest of the national economy.

According to the Minister, relations with the IMF are proceeding normally, as the government is benefiting from technical aid provided by the fund, especially in tax reforms. IMF is also helping Egypt in shifting from the current sales tax system to value-added tax (VAT).

Dimian also noted that no changes are likely to be seen in the current relations between Egypt and the IMF before the completion of the presidential and parliamentary elections.