Tough measures would be needed to solve problems in the economy as the country negotiates USD12bn loan programme with the International Monetary Fund (IMF), President Sisi stated yesterday as he prepares public opinion for a series of tough measures including subsidy cuts, tax reforms and privatisation of public enterprises. Egyptians will very soon be able to purchase USD at a unified rate, President said. Sisi’s comments added more uncertainty amongst currency speculators and traders have only been making small transactions at USD-EGP 12.30-12.70, traders say to reporters. Yesterday as well, the CBE has ordered 10 more FX bureaus shuttered for one year on speculative trading on the parallel market, bringing the total shuttered exchanges to 33. (Reuters, Al Masry Al Youm)