IMF Delegation In Cairo To Resume Talks With Govt

On Sunday morning a delegation of the International Monetary Fund (IMF) arrived in Cairo to resume the current talks with the Egyptian government over the loan that Egypt demands from the IMF.

Dr Hesham Kandil, Egypt’s Prime Minister, had a long meeting on Thursday with members of the IMF, who arrived two days before, and they reviewed the latest developments about the loan; in the presence of ministers of finance and planning and international cooperation.

Ambassador Alaa El Hadidy, official spokesperson of cabinet, has asserted that the meeting witnessed agreements over several principals in a way that supports reaching initial approval with the IMF. The two sides affirmed that the economic programs will not affect the poor and the low income people.

He explained that it was settled on the main factors to achieve the fiscal and economic stability and increasing he available resources to spend on the social programs.

It was also settled on the necessity of restoring trust in the Egyptian economy and working on boosting the local and foreign investments, in addition to encouraging the flow of capitals to support the reserve of the IMF.