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English news

28-Feb-2017

IMF review mission to visit Egypt in April; no backing away from subsidy reform, Minister of Finance says

Minister of Finance, Amr Al Garhy, said that the IMF review mission, originally set for March, has been postponed to sometime in April. The Ministry needs time to finish the FY17/18 budget, he explained, adding that the timing of the visit is in line with the agenda before and after the “Spring Meetings” of the IMF and World Bank, which are due to happen 21-23 April in Washington. El Garhy said the IMF loan document were sent to Parliament and will be discussed in a plenary session on 7 March. He also stressed that there is no backing away from the subsidy reform. “Subsidies have to be designed differently to reach the neediest.. We don’t want to live with energy subsidies that killed this country from 2002-2003 through 2014”. (Enterprise) 

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