International Monetary Fund chief Christine Lagarde will visit Egypt on August 22, the IMF said Wednesday, as discussions gear up over a possible $3.2 billion loan for the country. The visit comes as Egypt's Islamist President Mohamed Morsi moves to consolidate power in the wake of his election in June and after more than a year of instability prevented the IMF from proceeding with loan talks. "Her visit is a reflection of the IMF's continuous commitment to support Egypt and its people during this historic period of transition," the IMF said in a statement. On August 5, the IMF said an official mission led by its Middle East and Central Asia chief Masood Ahmed would visit Cairo this month aiming to "resume discussions on possible financial support for a homegrown economic program." Since late last year, the fund has been discussing a possible $3.2 billion loan with the country's interim leadership to help it bridge fiscal shortfalls while restructuring the economy and financial system. But a permanent government needed to be in place first to firm up the loan program, which will require significant structural reforms. And in April, the IMF stressed it needed "a broad buy-in" to the program from various constituencies in the country.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor