Informed governmental sources disclosed intentions to resume suspended talks with the International Monetary Fund (IMF) without giving details over date of return to negotiations.
The main target of resuming the negotiations, according to the sources, is receiving a certificate of validity of economy, not only for loaning, which is currently not on the agenda. The sources did not rule out getting loan later to cover the budget deficit either from the fund or other financial institutions seeking lower interests.
Neither the fund or any other will impose reforms on Egypt, in case negotiations resumed as it stopped such behaviour due to accusations of imposing programs on countries that it deal with, the sources told Al-Masry Al-Youm.
IMF Managing Director Christine Lagarde, according to the sources, earlier discussed the issue with Finance Minister Hani Dimian, Planning Minister Ashraf al-Araby and Deputy Governor of Central Bank of Egypt Nedal Omar few weeks ago in Washington.
Egypt earlier started negotiations with the IMF after 25 January revolution to get a loan of US$4.8 billion.
The sources added that governmental officials informed the IMF that the government started urgent measures to reduce the budget deficit and rationalize subsidy of food and energy.
Edited translation from Al-Masry Al-Youm
