4 January 2013

Egypt: U.S. Backs Egyptian-IMF Deal - Spokeswoman

A senior official from the International Monetary Fund has been meeting the Egyptian government for talks about a loan that is crucial for the ... ( Resource: IMF in Egypt for Loan Negotiations )

US State Department spokeswoman Victoria Nuland expressed Washington's support of the 4.8-billion-dollar loan Egypt seeks to get from the International Monetary Fund (IMF).

"We strongly support them (Egypt and IMF) being able to come to an agreement because it would speak to the reform path that the Government of Egypt is on, and it would also unlock our own ability to help Egypt more, Nuland said at a press conference.

As for the 450-million-dollar aid to Egypt, she said "we were able to provide some budget support to the Government of Egypt.

There a secondary issue of economic support funds which we had notified to the Congress, some of which are tied to the IMF agreement, some of which are not. But I think in general there is a conversation that we are continuing to have with the Congress about whether they are prepared to support the release of that money. And some of it, as I said, is tied to conclusion of an IMF agreement."

Nuland expressed hope that the new Egyptian constitution would be implemented in a manner that maximizes the protection of human rights for all Egyptian and helps to build consensus and build the ability to work together across communities in Egypt.

"That's what we are looking for, that's what the majority of Egyptians are working for," she said.

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