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IMF studying revised fiscal steps for Egypt, no loan talks set

Reuters, Thursday 28 Feb 2013

IMF's spokesperson said that there has been no date set to resume talking with Egypt over the $4.8 billion loan

IMF
Egyptian President Mohamed Morsi with IMF's chief Christine Lagarde in the presidential palace 2012 (Photo: Reuters)

The International Monetary Fund (IMF) is studying revised fiscal projections for Egypt's economy and no date has been set to resume talks on an IMF loan program, an IMF spokesman said on Thursday.

"We have received revised fiscal projections that are based on policy measures the authorities intend to implement," IMF spokesman William Murray told reporters.

"Staff is currently analyzing those new fiscal projections. Once we have had a chance to go through them, we will have a discussion with the authorities on next steps," he added.

He said the revised measures were received "in recent days" from the Egyptian authorities.

Earlier on Thursday the Egyptian minister of planning Ashraf El-Arabi said he expects the IMF's technical team to return to Cairo within 10 days to discuss the $4.8 billion loan.

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