CAIRO (Reuters) - The International Monetary Fund said on Thursday it had agreed with Egypt on the key policy components of an economic reform programme, in a further sign that a final deal to augment the country's $3 billion loan is nearing completion.
Ivanna Vladkova Hollar, the IMF mission chief for Egypt, said both sides had made "excellent progress" on the discussions of a comprehensive policy package that could kickstart long-delayed reviews of the country's economic reform programme.
"To this end, the IMF team and the Egyptian authorities have agreed on the main policy elements of the program.
The authorities expressed a strong commitment to act promptly on all critical aspects of Egypt's economic reform program," Hollar said in a statement.
The Egyptian pound, fixed at 30.85 to the dollar since then, has been trading on the black market as low as 71 pounds.
Persons:
Ivanna Vladkova Hollar, Hollar, Kristalina Georgieva, Hatem Maher, Jacqueline Wong, Leslie Adler
Organizations:
Monetary Fund, IMF
Locations:
CAIRO, Egypt, Israel, Gaza, Cairo