(16. Juli) Just a month into office, President Abdel Fattah al-Sisi‘s government has enacted a series of subsidy cuts and tax hikes resembling IMF-type austerity measures which the officials said were part of the consultants‘ plan. (..)

The IMF declined to comment on the possibility of reaching a deal on a loan to Egypt. But it has previously said it was open and eager to restart negotiations which ousted Islamist President Mohamed Mursi, who was unwilling to impose unpopular reforms, had failed to conclude.