Egypt Moves Forward on IMF Loan Deal After Delays
-
Egypt said it agreed with IMF to merge first two reviews of economic reform program, after delays in first review.
-
IMF approved $3 billion loan for Egypt in December, but first review scheduled for March has not happened yet.
-
Egypt finance ministry said negotiations with IMF are going "fruitfully and positively."
-
Egypt vowed to adopt flexible exchange rate under IMF deal, but official rate has stayed around 30 to dollar.
-
Egypt president appeared to rule out further devaluation soon, citing concerns over national security and citizens.
![](https://www.reuters.com/resizer/49gkWpjSQlP0vRXr19RpgNjPX6g=/1200x628/smart/filters:quality(80)/cloudfront-us-east-2.images.arcpublishing.com/reuters/ULNE6GFGIJLZNNGMOQP4T7KFHY.jpg)