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IMF hopes to conclude Egypt talks by year end: Spokesperson

Global fund says it will send a mission to Egypt in coming weeks to further discuss $4.8 billion loan

Reuters, Thursday 20 Sep 2012
IMF loan could be agreed by the end of the year (Photo: Reuters)

The International Monetary Fund said on Wednesday it will send a mission to Egypt in coming weeks to discuss possible financial help once the government has finalised its economic program, and hopes to conclude the loan talks by year end.

"The Egyptian authorities are working on their economic program," the spokesperson said. "As soon as that process is completed, we will be ready to send a technical team to Cairo to discuss possible financial support for a homegrown program."
Egypt has requested a $4.8 billion loan from the IMF to help plug twin deficits in its budget and balance of payments that have mushroomed since popular protests last year and lingering insecurity have kept investors and tourists away.
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