Kristalina Georgieva: IMF resolved ‘big policy issues’ in loan talks with Egypt

The International Monetary Fund (IMF) officials have resolved all “big policy issues” with authorities in Egypt in their discussions on a new lending programme, and will meet again on Saturday, IMF Managing Director Kristalina Georgieva said Friday.

Georgieva told a news conference on the sidelines of the IMF-World Bank Annual Meetings in Washington D.C. that the two sides were still working on smaller technical details, but these were not trivial matters and involved Egyptian exchange rate policies.

Egypt has been working to tie up a new IMF package during the annual meetings of the IMF and World in Washington, hoping to stem a currency crisis that has driven authorities to restrict imports and sparked market unease over foreign debt repayments.