IMF Says Financial Indicators in Egypt Have Greatly Improved

International Monetary Fund (IMF) official Masoud Ahmed said that financial indicators in Egypt have greatly improved in the recent months after the progress that was made in the political road map and the process of political transition, which provides more stability, according to State Information Service (SIS).

He asserted that the IMF believed for a long time that the best solutions for issues such as energy subsidy must be “gradual” not “sudden”, pointing out that the imbalance that prevailed during the last 30 years cannot be repaired in just three months, but it needs a reasonable period of time.

He added that the clear stance of the IMF is that Egypt is an important country for the IMF and a major country in the Middle East, stressing that the IMF is ready to provide the required support, whether technical or financial to the Egyptian government.