Egypt continues talks with IMF

Egyptian Finance Minister Morsi El Sayed Hijazi has revealed the country is continuing consulations with International Monetary Fund (IMF) officials to negotiate a loan for the cash-strapped state. Ministers are still engaging with IMF representatives through conference meetings and video meetings, he said, adding that an IMF delegation will visit Cairo in the next few weeks to discuss a potential agreement. New measures aimed at economic reform would meanwhile focus on social programmes, Hijazi claimed, and will see expansions to income tax and 50 percent increases in property tax revenues redirected to fund local councils and poorer areas.