Egypt sees talks with IMF back on track very soon

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“We invited another mission of the IMF to again realign the program so we can move forward with our national reform program to handle the budget deficit, to handle the fiscal problems so we can move forward with growth.”

Political unrest and sometimes violent protests in late November and early December set off a rush to convert Egyptian pounds to dollars, sending the currency to record lows on fears of a messy devaluation.

Officials said earlier an IMF team was expected to visit Cairo in two to three weeks. Egypt's newly named central bank chief said last week there was no need to be worried about the situation.

“We are committed to reform. We are committed to deal with the budget deficit,” Kandil said.

He added Egypt planned to hold an international economic forum in coming months to highlight investment plans and would also hold business roadshows to attract investors.

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