IMF waits for Egypt Consensus for Loan Request

Egyptian finance minister Momtaz el-Saeed has said his government and the International Monetary Fund (IMF) are in talks over a $3.2bn loan and said the lender was still waiting for Egyptian consensus on the funding, Bloomberg has reported. “The fund is asking for societal consensus and you know the circumstances given the presidential election,” el-Saeed told the news service. “Let’s be patient.” Asked if the IMF believed that a consensus to back the loan request was lacking, el-Saieed said: “This is its point of view.” He provided no timeline for a possible agreement.