President Mohamed Morsi received on Monday 7/1/2013 a delegation of the International Monetary Fund (IMF) under Dr. Massoud Ahmed, the director of the Middle East and Africa department of the IMF.
The meeting was attended by Prime Minister Dr. Hisham Qandil. Prime Minister Dr. Hisham Qandil discussed with IMF delegation the 4,8 billion dollar loan Egypt will get from IMF to redress the budget deficit and to boost development projects.
The meeting reviewed a report on the economic performance within the framework of the national program for financial and economic reform which was drawn up by the government. The meeting discussed the status of the US dollar in the Egyptian market.
The loan is considered a testimony that economic conditions in Egypt are sound.