IMF to review Egypt’s reform program twice in September
A former advisor to the International Monetary Fund (IMF) Fakhry al-Fiqi said Saturday that the second review to the Egyptian economic reform program will take place mid-September, after the government agreed with the IMF to include the the first review in the process.
The IMF’s first review was originally scheduled for March, but failed to take place.
He added that the IMF did not announce the cessation of the financing program for Egypt, which comes in accordance with a reform program agreed upon between the two sides and includes numerous procedures and requirements.
Fiqi – who heads the Parliament’s Plan and Budget Committee – ruled out a new devaluation of the currency – or “floating” – during the coming period by the Central Bank of Egypt, because this measure “may harm social peace,” he said.