IMF: The central bank has agreed not to issue new subsidies to government banks.

alborsaanews.com

IMF: The central bank has agreed not to issue new subsidies to government banks.

The Egyptian Central Bank has agreed not to lend any new subsidies to state-owned banks, according to documents of the Egyptian program with the IMF, and the IMF said in its first and second reviews of the Egyptian credit crunch program that its team will continue with the authorities to explore ways to strengthen the independence of state-owned banks. He said that governance practices, especially in state-owned banks, [...]