Economic group discusses VAT, remittances, inflation: Prime Minister Sherif Ismail chaired a meeting yesterday of the cabinet economic group, where discussions focused on improving the investment climate and following up with parliament on the value-added tax. It’s the last meeting before Finance Minister Amr El Garhy, International Cooperation Minister Sahar Nasr and Central Bank of Egypt Governor Tarek Amer head to Washington, DC, for the World Bank and IMF’s spring meeting. While speculation is rife the Egyptian delegation will open at least informal talks on an IMF facility, there are no signs policymakers have the political backing they would require to sign up for such a plan. Meanwhile, the CBE’s Amer appeared to have dropped by yesterday’s cabinet meeting, where he reportedly discussed a plan to encourage banks to open more branches abroad to increase remittances. Ismail also ordered the formation of a committee to develop an accurate measuring system of inflation of basic supply goods, Al Shorouk reports.