14 February 2013

Egypt: Prime Minister - IMF Praises Our Plan for Recovering Economy

Prime Minister Hisham Qandil said during a press conference on 14/2/2013 at the Cabinet's Information and Decision Support Center (IDSC) that the government has an immediate economic plan. He added that the only two bodies that have a plan are the government and the Presidency, and that the International Monetary Fund (IMF) and international experts evaluated this plan and said that it is good for recovering the Egyptian economy.

Qandil said that the IMF delegation will be invited during this month to resume the negotiations on the IMF loan which hit $ 4.8 billion.

He clarified that this loan is important because it encourages the investors on establishing projects in Egypt and if we did not get this loan, we should apply the comprehensive economic reform program.

Prime Minister concluded, saying "We need for calmness from the street, and patience and hard working from the citizens; as if we stop working, there will be no need for the IMF loan or any investments." He also urged the media to help in calming the conditions.

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