IMF adjourns Mission to Egypt to end of summer

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The International Monetary Fund (IMF) mission to Cairo is adjourned to the end of summer, according to the mission chief for Egypt and an Advisor at the IMF’s Middle East and Central Asia Department, Chris Jarvis, Aswat Masriya Arabic reported Sunday.

Jarvis told Middle East News Agency (MENA) that IMF is contacting with Egyptian government’s high officials.

The IMF mission to Egypt was scheduled to take place last June, in order to discuss with the government the latest developments in Egyptian economy and government’s economic reforms.

IMF staff visits are routine visits to member countries, and are part of the IMF surveillance and policy consultation relations with the Egyptian authorities.

Earlier in May this year, the IMF official said “We are not in talks on a new programme or a loan. So far, the authorities have not requested IMF financing, but we would be ready to consider a request if the authorities feel it is opportune. As mentioned by the Managing Director more than once, the Fund stands ready to help Egypt and its people,” Jarvis added.

In another context, economic analyst Fakhry Al-Feky commented in earlier statement last May that it is still too early to talk about requesting loans from the IMF, as the government still has no clear economic reform programme, noting that the government is making efforts to resolve many internal issues, such as food and energy supplies.