Cairo – Mubasher: The International Monetary Fund (IMF) and the Egyptian authorities have held very productive in-person discussions and made substantial progress on all policies, said Director of Communications at the International Monetary Fund (IMF), Gerry Rice, in a recent statement.
“IMF staff and the Egyptian authorities have agreed to finalize their work to reach a Staff-Level Agreement very soon," according to the statement.
The discussions were made on the margins of the IMF and World Bank (WB) annual meetings.
The policies include a continued fiscal consolidation path that will protect public debt sustainability and ensure a steady drop of the debt-to-GDP ratio over the medium term, additional fiscal and related structural policies, and monetary and exchange rate policies.
“The implementation of the authorities’ comprehensive structural reform agenda would gradually enhance the competitiveness of the economy, reduce the role of the state in the economy, level the playing field for the private sector, improve the business climate, and foster transition towards a greener economy.”
For his part, Egypt’s Finance Minister, Mohamed Maait, said on Sunday that his country has finalised a staff-level agreement with the IMF on the components of its programme and will issue an announcement very soon.
