Olga Stankova, IMF spokesperson, said the fund is ready to cooperate with Egyptian authorities to help Egypt overcome its economic difficulties.
Stankova said the IMF is aware that some Egyptian government officials have given statements in which they said that Egypt does not currently need a loan from the IMF. She also pointed out statements by Christine Lagarde, the IMf head, last month in Washington affirming that the IMF is ready to cooperate with the Egyptian government and support the Egyptian economy.
Minister of Finance Ahmed Galal had said that Egypt did not need the IMF loan at the moment because it was no longer necessary. He said Egypt had better solutions than resorting to borrowing. The government also said that the Egyptian economy can gain confidence in its performance through reform policies rather than loans.
Edited translation from Al-Masry Al-Youm
