Tags: IMF | Egypt | Reform | Loan

IMF: Egypt's Economy Deteriorating

Thursday, 09 May 2013 02:03 PM

The IMF says Egypt's financial situation is deteriorating and the organization is awaiting updated economic information and reform plans from the government in Cairo before it can move ahead with a deal on a $4.8 billion loan.

Egypt's negotiations with the IMF for the loan have dragged on for more than a year. The deal for the loan is expected to usher in widely unpopular austerity measures.

IMF spokesman Gerry Rice told reporters at a media briefing on Thursday that the IMF has not discussed or scheduled any future mission to Egypt yet because it is awaiting fresh economic data.

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The IMF says Egypt's financial situation is deteriorating and the organization is awaiting updated economic information and reform plans from the government in Cairo before it can move ahead with a deal on a $4.8 billion loan.Egypt's negotiations with the IMF for the loan...
IMF,Egypt,Reform,Loan
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2013-03-09
Thursday, 09 May 2013 02:03 PM
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