Egypt to invite IMF team Thursday for loan talks
Thursday, 28 February 2013
CAIRO: Egypt will send an invitation to an IMF technical team on Thursday for negotiations on a $4.8 billion loan deal, the state newspaper al-Ahram quoted planning minister Ashraf al-Araby as saying.
Al-Araby said he expected the team to arrive within 10 days, the newspaper reported on its website. Egypt and the IMF agreed the loan deal in principle in November but Cairo requested a delay the following month due to violent street protests.
"Today is a formal invitation will be sent to the technical delegation of the International Monetary Fund to come to Cairo to negotiate over the $4.8 billion loan to Egypt," al-Ahram quoted al-Araby, who is Planning and International Cooperation Minister, as saying.
The paper also quoted him as saying he expected the delegation to arrive to Cairo "within ten days". (Reuters)