IMF signals continued readiness to aid Egypt

IMF signals continued readiness to aid Egypt
3dman_eu / Pixabay

IMF signals continued readiness to aid Egypt

The International Monetary Fund on Thursday reaffirmed its continued willingness to support Egypt, adding that it is aware that Egyptians officials are still reviewing their economic programme.

According to a statement the Middle East News Agency reported on Thursday, IMF spokesman Gerry Rice has said that he will discuss with Egyptian officials the timing of the IMF delegation’s visit to Egypt when he receives the updated economic programme.

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The fund is closely following the developments in Egypt and regrets the violence and loss of lives that occurred recently, Rice said.

Egypt is negotiating with the IMF to borrow $4.8 billion to support its economy.

Negotiations were hindered due to Egypt’s political instability after President Mohamed Mursi issued last November a constitutional decree that gave him sweeping powers.

Christine Lagarde, Managing Director of the IMF, has last year during her meeting with representatives of the Gulf Cooperation Council countries that the fund has no prerequisites for resuming discussions with Egypt on the loan.


This content is from : Aswat Masriya

Updated on

Aswat Masriya English is the sister site of Aswat Masriya, which provides news and information about the general scene in Egypt. The websites are part of a Thomson Reuters Foundation initiative to enhance democracy through strengthening the media in Egypt. Along with a programme of training courses for journalists, it is hoped that the sites will promote democracy in Egypt by providing independent, balanced and accurate news and information to journalists and the public in this critical phase in Egypt’s history. Aswat Masriya has set content partnership agreements with prominent Egyptian media institutions like Al-Ahram newspaper and Al-Shorouk Newspaper.
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