Egypt does not need a new IMF-sponsored economic reform program after completing the current one at the end of this month, Central Bank of Egypt (CBE) governor Tariq Amer said on 17 June. Under the current program the IMF lent Egypt $12bn over three years with the aim of restructuring the economy after Cairo agreed to devalue/float the Egyptian pound in November 2016 (MEES, 4 November 2016). But the CBE chief says Egypt will continue to work closely with the IMF.
In comments carried by state news agency MENA, Mr Amer told a fintech conference in Cairo that the IMF regards Egypt’s reform program as “the world’s most successful.” (CONTINUED - 175 WORDS)