26 January 2020 10:50 PM

Cabinet: Gov't has no intention to get new loan from IMF in January

Saturday، 19 October 2019 - 02:36 PM

The cabinet's media center has denied reports that the government is intend to get a new loan from the IMF in January 2020 to fund a new economic reform program.

In a press release on Friday 18/10/2019, the center said it contacted the Finance Ministry, which categorically dismissed these reports as "baseless".

The ministry said that there is no need to obtain new loans, especially in light of the significant improvement in the performance of Egypt's economy.

During the coming phase, the government will cooperate with the IMF in the field of technical support, with a view to moving ahead with the implementation of sound financial policies that aim to reduce the budget deficit and the government debt, in addition to securing new jobs for young people and women, according to the ministry.

The ministry appealed to all mass media outlets and social media users to seek accuracy before spreading these groundless reports to avoid sparking the public opinion and provoking citizens' anger.


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