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FINANCIAL NEWS
Egypt progresses in talks with IMF
05 Aug 2016
(MENAFN) Minister of Finance Amr Al Garhy said on Thursday Egypt is making “good” progress in a long-awaited value-added tax (VAT) law negotiations with the International Monetary Fund (IMF).
Egypt is negotiating a $12 billion loan with the IMF and is pushing ahead with reforms, including plans for a VAT tax and further subsidy cuts.
“We are making good progress in negotiations with the IMF,” El-Garhy said at a news conference on Thursday.
“We want to achieve the figures we set for the budget.This is what we are discussing with the IMF,” El-Garhy said.
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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