Don’t worry, the IMF is not pushing for a capital gains tax: Implementation of the capital gains tax act hasn’t come up during the IMF talks, said Deputy Finance Minister for Taxation Policy Amr El Monayer. He confirmed that the tax will remain suspended until 16 May 2017. In a bid to reassure those in the House who fear the government’s economic agenda might be altered because of the talks, El Monayer said discussions are focused primarily on the reform agenda passed by the House of Representatives..

Meanwhile, the IMF delegation has set up working groups to discuss specific aspects of Egypt’s reform agenda, government sources tell Al Mal. The IMF team on taxation has already begun meetings with Finance Ministry officials to discuss taxation policy, while another team on subsidies have begun reviewing the energy subsidy cuts. On a related note, Prime Minister Sherif Ismail met with the IMF delegation yesterday and was briefed about the progress of the talks, according to a Cabinet statement.