Egypt Sees IMF Accord Crucial to Economic Rebound, Minister Says - Bloomberg

Egypt Sees IMF Accord Crucial to Economic Rebound, Minister Says - Bloomberg:

"Egypt’s interim government considers a loan agreement with the International Monetary Fund an “essential” part of efforts to revive economic growth, Planning Minister Ashraf El-Arabi said.
The timing of a resumption of talks on a $4.8 billion loan is still under discussion, El-Arabi said in a telephone interview today. The government is assessing Egypt’s financing needs based on the latest economic data, he said.
El-Arabi’s remarks come a day after Egypt’s government said it was told by visiting Deputy Secretary of State William Burns that the U.S., the IMF’s largest shareholder, supports the resumption of talks. Egypt’s negotiations with the IMF have been repeatedly disrupted since 2011, and have been on hold since the army deposed President Mohamed Mursi on July 3 following nationwide protests against his one-year rule."

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