Egypt Clears One Hurdle for IMF Review, Faces Other on Currency
- Progress on state-asset sales clears key hurdle for IMF review
- Egypt still unlikely to allow for weaker currency before vote
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Egypt has removed one key concern that’s held up a review of a $3 billion rescue program with the International Monetary Fund, according to people familiar with the matter, even as impending presidential elections make it difficult to satisfy the crucial demand of a weaker currency.
The IMF believes authorities are more serious about carrying out an ambitious sale of state assets following a handful of high-profile deals, said the people, speaking on condition of anonymity as the deliberations haven’t been made public.