Egypt’s Premier – Washington Ready to Help Egypt Secure IMF Loan

Washington is ready to help Egypt in its attempt to obtain a $4.8 billion loan from the International Monetary Fund (IMF), the Egyptian state television MENA reported Prime Minister Hazem el-Beblawi as saying.

“The U.S. Secretary of the Treasury has signaled his readiness to aid Egypt’s economy,” Beblawi said on Friday.

The IMF said on Thursday that it will not hold talks with Egypt about a possible loan until the interim government is internationally recognized.

“It’s a case of the international community … its institutions, its nations, coming together and recognizing a particular government,” IMF deputy spokesman William Murray said.

“Until that happens, and until our members make a decision on the Egyptian government, we’re going to keep our context technical (at the technical level),” he added.

The IMF had been negotiating a critically needed $4.8 billion loan with Egypt before the military removal of elected President Mohamed Morsi in early July.