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Egypt govt to discuss IMF assistance on Saturday: PM

Hisham Qandil says new cabinet will look at controversial borrowing decision at this weekend's meeting

Reuters, Thursday 2 Aug 2012
Views: 769
Views: 769

Egypt's new Prime Minister Hisham Qandil will hold a meeting with members of his government on Saturday to discuss the next steps on seeking an International Monetary Fund loan, Qandil said.

An IMF deal would help Egypt stave off a budget and balance of payments crisis and add credibility to economic reforms needed to restore the confidence of investors who fled the country after a popular uprising last year.
"We will have a meeting on Saturday headed by me to look into our next steps," Qandil told reporters in Cairo on Thursday.
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