Last Update 19:45
Friday, 20 April 2018

No fixed timeline to conclude Egypt loan talks: IMF

Agreement will depend on how quickly progress is made by all sides, spokesman for the global body tells news conference

Reuters, Thursday 5 Apr 2012
Views: 703
Views: 703

The International Monetary Fund said on Thursday there was no fixed timeline for concluding loan talks with Egypt and insisted it was key that any funding deal have the broad support of all political parties in the country.

"The timeline for concluding an agreement is not fixed and will depend on how quickly progress is made by all sides on these all issues," IMF spokesman Gerry Rice told a news conference.

Egyptian Planning Minister Faiza Abu El-Naga said on Monday that Egypt expected to sign a $3.2 billion financing package with the International Monetary Fund in June, three months later than it had previously hoped.

The IMF said that before it agrees to a loan, the government must first sell the plan to the country's political forces, especially the Muslim Brotherhood's Freedom and Justice Party, which won nearly half the seats in the new parliament.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.