IMF Mission Expected To Visit Egypt Before End of September

An International Monetary Fund mission is expected to visit Egypt before the end of the month to discuss the country’s request for a $4.8 billion loan program, an IMF spokesman said on Thursday.

“It would be premature for me to discuss conditions or measures of the possible program” since talks have not begun, IMF spokesman Gerry Rice told reporters in response to a question about whether the IMF would pressure Egypt to devalue its currency in order to receive aid.

“But what I can say, in general, the Fund would like to support a home-grown program in Egypt that addresses the economic and social challenges that Egypt is facing,” he said.

Reuters