27 February 2013

Egypt: Arabi - $ 13 Billion Foreign Currency Reserves Cover Only 3 Months

Minister of Planning and International Cooperation, Ashraf al-Arabi said that the foreign currency reserves reached $ 13 billion, covering only 3 months.

He added during his TV interview broadcasted on Tuesday 26/02/2013, the economic reform program will be discussed in a community dialogue with the parties next week.

He pointed out they apply the maximum wage on the ministries themselves, adding that they will work hard to reach a final agreement with the International Monetary Fund about the loan before the parliamentary elections.

Arabi emphasized that a technical delegation will travel to resume negotiations with the International Monetary Fund next week.

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