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Egypt says about to conclude $3 billion IMF accord - ASHARQ AL-AWSAT English Archive
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CAIRO (Reuters) – Finance Minister Samir Radwan said on Sunday Egypt was about to conclude a $3 billion standby financing arrangement with the International Monetary Fund (IMF) but was still working out some of the terms.

He said the funds would be disbursed quarterly under a 12-month agreement, but that Egypt was asking that a large portion of the funds be delivered early.

“We are asking that an important part of it be loaded up front,” Radwan said by telephone.

Egypt was also discussing interest rates and the repayment period of the borrowed funds, he added.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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