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  • 29-11-18

    Egypt denies IMF help after USD12b plan expiry

    (MENAFN) Egypt is denying more help from the International Monetary Fund (IMF) once its plan, valued at USD12 billion, ends in 2019.

    However, Egyptian Finance Minister Mohamed Maait confirmed, the country is willing to keep its good ties with the IMF in order to banish concerns investors are having.

    Speaking to Bloomberg Television, the Egyptian minister stressed: "we are now in a position that we don't think we will need further funding from the IMF. That is number one."

    Even though there "could be some sort of cooperation" with the IMF, "let me say again and stress again that this does not mean we're going to ask for further financing," the minister added.

    MENAFN2911201800450000ID1097761621

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