Egypt’s Minister of International Cooperation Naglaa Al-Ahwani said that Egypt has invited the International Monetary Fund (IMF) to visit Egypt before the end of this year, State Information Service (SIS) reported.
The visit will be for consultation regarding the economic situation and the reform program, which was initiated by the government to tackle structural imbalances in the subsidy system and measures to reduce the budget deficit, the minister added.
The visit will be part of the annual assessment the fund conducts for economic development and reforms under the Article IV consultations, where IMF experts assess a country's financial and economic state of affairs.
"A delegation from the IMF will visit Egypt later this year to review the Egyptian economic situation," Al-Ahwani said.
This is the first visit to be paid to Egypt by an IMF delegation since March 2010, said the minister.
In statements on the sidelines of the autumn meetings of the World Bank and IMF in Washington, Al-Ahwani said that the New Suez Canal digging operation is carried out by Egyptian hands and Egyptian financing.
The minister said earlier that Egypt is not planning currently to obtain an IMF loan.