New Finmin Plays Safe on IMF
Source: Agencies |
December 4, 2011, Sunday
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Print Edition
Print Edition
EGYPT is not ready for a decision on funding from the International Monetary Fund, the government said yesterday in a statement that named Mumtaz al-Saeed as the country's new finance minister.
"Regarding the fate of the deal with the IMF for the US$3.2 billion fund, which is the deal that has been suspended because of the recent events, al-Saeed said it is too early to know the fate of this loan," the Finance Ministry said.
An interim government that has been lobbying for foreign funds to bolster a ballooning budget deficit resigned last month and the new Prime Minister chosen by the country's army rulers has yet to formally announce a new cabinet.
"Regarding the fate of the deal with the IMF for the US$3.2 billion fund, which is the deal that has been suspended because of the recent events, al-Saeed said it is too early to know the fate of this loan," the Finance Ministry said.
An interim government that has been lobbying for foreign funds to bolster a ballooning budget deficit resigned last month and the new Prime Minister chosen by the country's army rulers has yet to formally announce a new cabinet.
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