Egypt moving ahead with economic reform, with or without IMF

The sixth revision of the second economic reform program signed by Egypt with the International Monetary Fund for a two-year period due to end in September started yesterday in Cairo.

Dr. Abdul El-Shakour Shaelan, a member of the board of directors of the International Monetary Fund and the representative of the Arabic group in the fund, said today that the current revision confirmed Egypt's commitment to the agreed-upon program concerning procedures and timing, adding that the Egyptian government stated its commitment to continuing the reform process whether through programs with the fund or without signing new programs.

Shaelan confirmed that Egypt will decide the extent of its need to plan with the fund and said the fund is only assisting in reforms.