April 16, 2020 / 9:38 AM / a month ago

Egypt to start discussions with IMF for new financial support- PM

CAIRO, April 26 (Reuters) - Egypt plans to start discussions within days with the International Monetary Fund on a new, one-year financial support programme, Prime Minister Mostafa Madbouly said on Sunday.

Egypt has sufficient foreign reserves to deal with economic shocks caused by the new coronavirus outbreak for one or two years, said Central Bank Governor Tarek Amer in a joint press conference. (Reporting by Ehab Farouk, Nadine Awadalla and Patrick Werr Writing by Aidan Lewis Editing by Gareth Jones)

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