IMF hopes to conclude Egypt talks as quickly as feasible

The International Monetary Fund (IMF) and Egyptian finance officials are working to conclude talks “as quickly as feasible” on a proposed $4.8 billion loan deal to ease the country’s deepening economic crisis, a senior IMF official said Friday.“I don’t have a date for when those discussions will be completed precisely, but Egyptian authorities and our own team are working diligently to try to bring that set of discussions to a conclusion as quickly as feasible,” IMF Director for the Middle East and North Africa Masood Ahmed told reporters in Washington.The talks are happening on the sidelines of the annual spring meetings of the IMF and World Bank in Washington. A deal with the IMF will increase confidence in Egypt’s economy and reassure private investors and donors that the country is committed to economic reforms, which include reducing fuel subsidies and increasing sales taxes.