Voice of America: Egypt to Resume IMF Loan Talks as Currency Weakens

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

Egypt to Resume IMF Loan Talks as Currency Weakens Dec 30th 2012, 16:32 Egypt says it will resume negotiations in January for an emergency loan from the International Monetary Fund as the country's economic crisis deepens with the national currency weakening to an eight-year low against the dollar. Egyptian Prime Minister Hesham Kandil said Sunday the requested $4.8 billion loan is small relative to the country's needs. But, speaking at a news conference, he said IMF assistance is important for restoring investor confidence in the economy. The Egyptian ... Media files: 253F0C5F-708B-463D-AE2F-883DAB3456F4_cx0_cy4_cw0_w800_r1.jpg?nocache=1 (image/jpeg, 0 MB)

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