Egypt has turned to the International Monetary Fund to help see it through a gap in financing that has loomed larger and larger since the revolution that toppled the regime of former president Hosni Mubarak.
But Samir Radwan, finance minister (pictured), said the hoped-for $10bn-$12bn package from the IMF and other lenders would provide only temporary relief. “I need support for six months to a year, but after that I need investment,” he commented after the IMF said on Thursday it would send a team to Cairo soon to examine the request.
The IMF statement came hours after Radwan detailed in Cairo the losses to the economy sparked by the political turmoil of recent months.
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