Egypt Resumes Talks With IMF Via Video Conference

Egypt will resume negotiations with the International Monetary Fund (IMF) over the long-awaited US$ 4.8 billion loan through video conference, the Minister of Finance, El-Morsi El-Sayed Hegazy, said.

He expected signing the definitive loan agreement within few weeks, noting that the IMF team will visit Egypt after reaching an agreement.

The Finance Minister will hold a meeting with Shura Council’s Finance and Economic Affairs Committee to discuss the results of the negotiations.

After securing the recent aids, the financing deficit dropped to US$ 14 billion, down from US$ 19 billion, he revealed.