International Cooperation Minister Nagla al-Ahwany said the government will not resume negotiations with the International Monetary Fund (IMF) at the present time, explaining that sometimes the fund sets timings for reform that are not suitable for the social situation in Egypt.
“Egypt is a founding member of the IMF and has the right to resort to it in times of need,” she said. “But the fund also has the right to make sure that the economic situation of a member state is sound and that reform policies can repay loans.”
Edited translation from Al-Masry Al-Youm
