21 May 2012

Egypt: CBE - Country Does Not Need IMF Loans

Dr. Farouk Al Oqda Governor of the Central Bank (CBE) affirmed that Egypt is not in need for the international monetary fund (IMF) loan of $ 3.2 bn, adding that he did not visit Washington for this purpose and did not meet with any IMF official as negotiations are suspended with IMF.

The one billion dollar deposit by Saudi Arabia came as the first installment to support the Egyptian economy by Saudi Arabia. We are waiting for promises by Arab countries to support the Egyptian economy and that we do not mean grants, but rather deposits or projects to be financed by them.

Copyright © 2012 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.