By: Amr Adel
Dubai - Mubasher: The Egyptian minister of finance, Amr Al-Garhy, said on Sunday that the country is committed to paying all of its obligations to foreign partners, noting that the government is currently working on repayment as soon as possible.
Al-Garhy also told Mubasher, on the sidelines of of the second Arab Fiscal Forum in Dubai, that the ministry is laying out the needed plans to pay for foreign companies, and to provide needed funds soon.
Last week, Dana Gas said that it will freeze its investments in Egypt if it didn’t get the receivables that increased in 2016 to $265 million.
The British embassy in Cairo indicated in min-November that paying foreign oil companies was part of the International Monetary Fund (IMF) conditions before approving the loan deal.
The finance minister ruled out issuing international bonds in currencies such as the Japanese Yen and Chinese Yuan, adding that any bond issuance in the future will depend on the country’s needs.
When asked about the capital gains tax he stated that the draft law which includes a three-year delay will be presented to the parliament before the end of February.
Al-Garhy also noted that there has not been a decision yet regarding freeing the price of 92 Octane gasoline, by lifting government subsidies.
