Africa - Voice of America: Egypt Discusses $4.8 Billion Loan with IMF

Africa - Voice of America africa

Egypt Discusses $4.8 Billion Loan with IMF Aug 22nd 2012, 16:57 CAIRO — International Monetary Fund head Christine Lagarde met with Egyptian President Mohamed Morsi Wednesday to begin negotiations on a $4.8-billion loan to help the Egyptian economy recover after months of political turmoil. Egypt's Prime Minister Hisham Qandil told reporters that an International Monetary Fund  loan would lower Egypt's borrowing costs, reducing the burden of an ongoing budget shortfall. "The lending terms become a lot cheaper and that will have a direct ... Media files: 959F3ADD-64FD-4E0E-8F28-59E61712DC8C_cx0_cy0_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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