Egypt’s Planning: No Negotiations On Increasing IMF’s Loan To $5.6 bln

Dr Ashraf Al Araby, Egyptian Minister of Planning and International Cooperation, confirmed that the Egyptian government has officially asked for increasing the loan of the International Monetary Fund (IMF) to $ 5.6 billion as it was disseminated in some newspaper.

He added, during his visit to the industrial zone in Northwest of Suez Gulf with the Egyptian Premier, that the negotiations are still conducting with the IMF in order to get $ 4.8 billion loan, indicating that the government started to go on the right trajectory over the economic reform program.

As to the $3 billion Qatari deposit, Al Araby said it goes regularly, but it hasn’t deposited in the Central Bank of Egypt (CBE).