2 September 2012

Egypt: IMF Loan Deal Proves Economy Able to Recover - Spokesman

Photo: IMF Staff Photograph/Stephen Jaffe
International Monetary Fund's Managing Director Christine Lagarde (file photo).

Presidential Spokesman Yasser Ali said on Saturday 1/9/2012 that a planned loan deal between Egypt and the International Monetary Fund (IMF) shows that the Egyptian economy is able to recover.

"The loan proves that the Egyptian economy is able to deal with international institutions," the spokesman said.

He said there is an agreement with political powers for not resorting to more loans.

"But if the need arises (for a loan) and without harsh conditions, why not?"Ali said.

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