International Finance
IMF announces progress in Egypt's economic reform programme but calls for reducing state ownership
The IMF says Egypt is progressing on its macroeconomic programme but must accelerate structural reforms, especially by cutting state ownership. Slow reform has prompted a possible merger of the fifth and sixth reviews of Egypt’s USD8 billion loan, delaying the next disbursement. Financial reforms are on track, but Egypt missed its $3.6 billion divestment target tied to the fifth review.
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