Egypt-IMF Talks Stall Won’t Hurt Relations – Minister

The Egyptian Planning Minister, Dr. Ashraf Al Arabi has asserted that halting the negotiations with the International Monetary Fund (IMF) in the current time doesn’t mean cutting ties with the International Finance Corporation.

The Minister added that the Gulf aids which obtained by the government within the last period estimated at $12 billion.

He said the government is keen on continuing its relationship abroad, aiming to encourage investment opportunities, pointing out that it is scheduled to hold a meeting with the investment and industry and trade ministers during the current month in order to look into supporting more investments.

He explained that the country has allocated EGP500million to support the factories in default.