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Egypt PM hopes for IMF agreement by end-Oct

Arab World Materials 9 October 2012 13:08 (UTC +04:00)
Egypt PM hopes for IMF agreement by end-Oct
Egypt PM hopes for IMF agreement by end-Oct

Egypt's prime minister said on Tuesday he would invite the International Monetary Fund to visit Egypt for talks about a loan facility at the end of October and hoped to reach an agreement "by that time" Reuters reported.

Egypt, which has already launched negotiations for a $4.8 billion IMF loan, urgently needs financial support to prop up state coffers weakened by economic turmoil since the popular uprising last year that ousted President Hosni Mubarak.

Prime Minister Hisham Kandil was speaking at a business conference in Cairo.

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