Egypt weighs pros and cons of IMF loan
As the IMF reform program with Egypt is set to come to an end in August, future cooperation agreements between the two sides are yet to be revealed as experts weigh the pros and cons of the program.
CAIRO — As the end of the economic reform program that the International Monetary Fund (IMF) asked Egypt to implement in exchange for a $12 billion loan draws near, Cairo has yet to officially reveal whether it intends to cooperate with the IMF once again.
Although Egyptian Finance Minister Mohamed Moeit said the country might renew cooperation with the IMF, the latter has yet to determine how such cooperation could unfold.
In an interview with Bloomberg, Moeit said that Egypt aims to conclude a nonfinancial agreement with the IMF by October to replace a three-year loan deal that expires this month — a step that may help the country remain an attractive market for foreign investors.
He said the new program could last about two years.
