Egyptian economy minister denies Egypt exposed to pressures for privatizing banks

Youssef Butros Ghali, the Egyptian minister of economy, firmly denied today that Egypt was exposed and responded to great pressures from the International Monetary Fund concerning privatizing the general banks and confirmed that the "International Monetary Fund has not any demands concerning this matter".

He also said "the agreement with the IMF ends in the coming July, and there will be no other agreement in the future with the fund, pointing out that the previous agreements were periodic from 1991 to 1997.