The Clap
Mohamed Maait, Minister of Finance, said that all issues related to the agreement with the IMF are resolved and that the final agreement is close.
The Deets
Maait’s statements were during his participation in the annual meetings between the International Monetary Fund and the World Bank, which Egypt hopes to reach an agreement with the IMF, before the end of these meetings, which is what Reuters said.
Why this Matters
The gradual depreciation of the EGP in the recent period, reflecting greater flexibility in the exchange rate, is a strong sign that the IMF deal is close, as that was one of the demands from the IMF for Egypt.
