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English news

14-Feb-2019

Egypt will not ask IMF for another loan after current USD12bn facility ends

In a meeting with Prime Minister Mostafa Madbouly and Central Bank of Egypt (CBE) Governor Tarek Amer, IMF Middle East and Central Asia Director Jihad Azour spoke positively of Egypt’s commitment to the ongoing reform programme and of the government’s coordination to implement it, according to a Cabinet statement. Amer left the door open to technical cooperation with the IMF after the USD12bn extended fund facility is fully drawn down this year. Finance Minister Mohamed Maait has said last year that Egypt will not ask the IMF for further funding once the facility ends but will keep an open dialogue with the institution to maintain investor confidence. 

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