By Mostafa Adel
Cairo – Mubasher: Egypt’s negotiations with the International Monetary Fund (IMF) over the $12 billion loan are neither put on hold nor scheduled, said Ahmed Kojak, deputy finance minister for monetary policy.
“Everything is going on track”, he told Mubasher in a phone call, adding “the present IMF meetings are held annually and the IMF board, which is authorized to study this agreement, does not convene on the annual meetings’ sidelines.”
Earlier, Fitch Rating said the possible IMF funding deal with Egypt would be credit positive for the country, but implementation risks are high and the country will continue to face several economic challenges.
The country’s financing gap stands at $30 billion over three years to end on 30 June 2018, according to data by the Ministry of Finance.
