16 January 2013

Egypt to Make Changes to Economic Reform Plan for IMF's Loan

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

Finance Minister Al-Morsy Hegazi said on Tuesday 15/1/2013 that Egypt is currently seeking to change the economic reform plan to obtain thr IMF $ 4.8 billion loan.

At a meeting with the Bank Group Chairman Ahmed Mohammed Ali, the minister added that there are several domains of cooperation between both sides that will eventually ease the burden off the State's budget.

Egypt has several projects to be financed by the Bank under different systems, he said, explaining that Egypt is also considering applying the system of Private-Public-Partnership (PPP). The meeting also took up the Bank's experience in the domain of Islamic Sukuk (Bonds).

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