Egypt sees talks with IMF over $4.8bn loan unlikely before 2014

Egypt: Egypt’s new future planning minister Ashraf al-Arabi has said the country is unlikely to be in a position to seek a long-chased $4.8bn loan from the International Monetary Fund (IMF) before the end of this year, Ahram has reported. Al-Araby cited “the political deadlock in the country, the lack of consensus between the various political factions, and the ongoing unrest” as the main factors hampering talks with the international lender. “It is not appropriate to have a new round of negotiations with the IMF until Egypt regains political stability,” said al-Araby, stressing that this was his own personal view rather than official ministerial policy. []

Powered by WPeMatico

This entry was posted in Egypt News. Bookmark the permalink.

Leave a Reply