IMF supports Egypt's monetary, financial polices

The International Monetary Fund (IMF) announced yesterday it supports the policies adopted by the Central Bank of Egypt concerning the current exchange rate's mechanism.

Director of Foreign Relations at the IMF Thomas Dwash said the IMF supports the government's strategy in facing up the economic and financial difficulties emerged following the September 11 events in New York and Washington.

"The tourism sector is still suffering a shortage of hard currencies inflow as a result of reverse repercussions of these events on economy," he added.