Egypt is set to commence talks with the International Monetary Fund in the coming weeks to reach a staff-level agreement over a new programme under the Extended Fund Facility mechanism. According to the Egyptian cabinet, the aim of the new pact is to support comprehensive national economic reform, curb the negative effects of the global economy on the country and ensure economic stability. The IMF said, in a separate statement, that it had held productive discussions during a staff visit to Egypt on economic policies and reforms to be supported by an extended fund facility.
