Boutros Ghali says no need for another IMF loan, but experienced gov’t needed

YBG says another IMF facility is unnecessary: Egypt does not need another IMF loan, but the government needs to appoint experienced leaders, former Finance Minister Youssef Boutros Ghali told the local press. “The IMF's procedures are difficult but necessary, and the Egyptians absorbed the shock, but we have to concentrate on other important issues now,” Ghali said. The IMF reform program has squeezed poor Egyptians and bureaucracy is still an issue affecting FDI inflows, Ghali said. Egypt may not see another currency depreciation in the future, but the government must ensure incomes match the high inflation the country has been witnessing, the former minister said. He sees tourism, real estate and energy as the sectors with the most growth potential.