July 2, 2018 / 8:24 PM / in 4 months

IMF urges Egypt to maintain tight monetary policy to ward off inflation

CAIRO, July 2 (Reuters) - Egypt should maintain tight monetary policy to contain the risk of inflation as a result of fuel and electricity subsidy cuts, the International Monetary Fund said on Monday, in a statement that praised progress on reforms tied to a new $2 billion loan.

The IMF said Egypt’s near-term growth outlook was “favourable, supported by a recovery in tourism and rising natural gas production.” It said the country’s strong foreign reserves meant it could weather “tightening global financial conditions” that have led to a pullback by foreign investors in emerging markets. (Reporting by Eric Knecht)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below