IMF Says Ready To Send Team For Egypt Talks

Masood Ahmed, Director for the Middle East and Central Asia at The International Monetary Fund (IMF) said in an interview today in Doha that the fund is ready to send a technical team to Egypt, which has requested a $4.8 billion loan, “as soon as the Egyptians have themselves gone through the internal process,”, according to Bloomberg.

“For us, it’s very important that any program that we support is one that is fully developed and owned by the authorities themselves, and that process is ongoing,” he added.

Egypt is seeking IMF loan as its economy struggles to recover from popular uprisings last year. Egypt’s foreign-currency reserves have plunged by more than half.

Mubasher