Egypt Hopes For IMF Deal Before End Of Year

Egyptian Prime Minister Hisham Kandil said on Wednesday he hoped Egypt could reach a loan deal with the International Monetary Fund before the end of year or sooner.

“The objective (of the IMF visit) is to show support for the Egyptian economy and start the path of work until we reach negotiations and agreement on the loan by the end of this year, God willing, or before that, in two months, or according to what time allows,” Kandil told a joint news conference with visiting IMF chief Christine Lagarde.

Egypt has formally asked for a $4.8 billion IMF loan.

Reuters