IMF stressed that support for the Egyptian capital requirements

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International Monetary Fund (IMF) said yesterday that, if the Egyptian government deems it necessary, in the process of talks to regain long-term loan program, IMF by rapid financing instruments to provide short-term loans to Egypt.
Egypt and the IMF in November last year, reached a preliminary agreement on $ 4.8 billion of long-term loans to help the country reshape the economy. However, the new constitutional referendum triggered mass demonstrations, and the Egyptian government requested the IMF to postpone the approval of this loan scheme in order to have more time to explain to the people in the loan agreement austerity and tax increases Terms.
The IMF expert group early this year, the visit to Cairo and the Egyptian authorities to commence negotiations on the country may regain loan projects.

By HPC.
 
 
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