International Monetary Fund representative praises Egyptian economy

Officials from the International Monetary Fund held a press conference today in Cairo, in which they praised the performance of the Egyptian economy.

Howard Handy, deputy manager of the IMF's Middle East administration, stated that the Egyptian economy will not be exposed to economic instability similar to what happened in southeast Asian countries because Egypt has a reserve of foreign currencies worth $20 billion.

Atef Ebeid, the Egyptian minister of public enterprises said today that the government will present 35 companies for sale during the during the coming months within the Egyptian economic reform program.