The International Monetary Fund said Thursday it was making progress in talks with Egyptian authorities on a potential loan but that technical issues such as subsidies remain.
"Our work with the Egyptians is producing increased understanding on many of the remaining issues," IMF spokesperson Gerry Rice said.
The spokesperson, speaking at a regularly scheduled news conference, said that the IMF was working "constructively" with the authorities with the hope of a swift conclusion of loan negotiations.
"We look forward to the resolution of remaining technical issues and completion of the preparatory work by the authorities," he said.
"We're looking in particular for early decisions by the authorities on revenue measures to reduce the large budget deficit and on their plans for the use of smart cards to reduce the cost of gasoline and diesel subsidies."
The IMF and Egypt have been in talks for months over a multibillion-dollar IMF loan that is contingent on strong support from domestic political actors and a commitment to key reforms.
"Our work with the Egyptians is producing increased understanding on many of the remaining issues," IMF spokesperson Gerry Rice said.
The spokesperson, speaking at a regularly scheduled news conference, said that the IMF was working "constructively" with the authorities with the hope of a swift conclusion of loan negotiations.
"We look forward to the resolution of remaining technical issues and completion of the preparatory work by the authorities," he said.
"We're looking in particular for early decisions by the authorities on revenue measures to reduce the large budget deficit and on their plans for the use of smart cards to reduce the cost of gasoline and diesel subsidies."
The IMF and Egypt have been in talks for months over a multibillion-dollar IMF loan that is contingent on strong support from domestic political actors and a commitment to key reforms.
