Egypt: IMF Visit

The IMF is to visit Egypt for Article IV consultations after presidential elections due at the end of May, Egyptian Minister of Finance Hani Dimian said in Washington this week, following talks with IMF chief Christine Lagarde.

Mr Dimian says the Egyptian economy faces a number of challenges, the most important of which are raising growth, financing the necessary education, health and social spending and better targeting of subsidies. He says that Cairo is working on a new stimulus package aimed at reviving key sectors in the economy, namely industry, housing, construction, communications and tourism. Ms Lagarde says the IMF is ready to assist Egypt. (CONTINUED - 375 WORDS)