Egypt's talks with the International Monetary Fund (IMF) are heading in a "good direction," Prime Minister Moustafa Madbouly said on Wednesday. Speaking at his weekly press conference, Madbouly said the Central Bank of Egypt's (CBE) governor and economic ministers are in Washington for the IMF and World Bank annual meetings, with "continuous communication" taking place throughout the day. "The discussions are heading in a good direction," Madbouly said. "The IMF's latest report confirmed an improvement in Egypt's economic growth outlook." He added that Egypt's current programme with the Fund is being reviewed during the meetings, and that further updates are expected once the discussions conclude in the coming days. Egypt is currently in talks with the fifth and sixth reviews of its $8 billion loan programme, which supports fiscal consolidation, state asset sales, and exchange rate flexibility as key pillars of reform. Attribution: Amwal Al Ghad English
