By: Mostafa Adel
Cairo – Mubasher: Egypt’s minister of finance Amr El-Garhy said Sunday that the government’s negotiations with the World Bank (WB) are going well for the $1.25 billion second tranche of the $3 billion loan.
El-Garhy expects Egypt to receive the second tranche in the second half of June.
The minister added that the government’s initial public offerings (IPO) programme is also going well, noting that offering the shares of Banque Du Caire and Enppi on the Egyptian Exchange (EGX) will take place in the upcoming period.
With regard to raising interest rates to control inflation, El-Garhy said that it is up to the Central Bank of Egypt (CBE) to make the decision in light of economic conditions.
Translated by: Elwy el-Manzalawy
