The cabinet’s media center denied reports saying that Egypt plans to have a new loan from the International Monetary Fund (IMF).

“Such news reports are baseless,” the center stressed in its statement, adding such reports aim at shaking confidence in the recovery of the Egyptian economy.

The Finance Ministry has no plan to have a new loan from the IMF after the running $12 billion one, citing that the Egyptian economy has returned to the right track and has been witnessing a notable and continuous improvement, endorsed by all international organizations, the center added.

There is no any need to get a new loan from the IMF, it stressed.

MENA