March 17, 2013 / 2:50 PM / 5 years ago

IMF official says good progress made in Egypt talks

CAIRO, March 17 (Reuters) - Egypt and the International Monetary Fund made very good progress in talks on Sunday, an IMF official said after meeting Prime Minister Hisham Kandil.

“We’ve had very good progress,” Masood Ahmed, Director of the IMF’s Middle East and Central Asia Department told reporters, describing the discussions as “very constructive”.

“The next step is that the technical work will continue,” he added.

Egypt is seeking a $4.8 billion loan from the IMF as the country grapples with a currency and budget crisis.

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