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IMF still waiting on Egyptian economic plan - ASHARQ AL-AWSAT English Archive
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DUBAI, United Arab Emirates (AP) — A senior International Monetary Fund official says the fund remains willing to consider a much-needed $3.2 billion aid package for Egypt but is waiting for sufficient consensus from political leaders in Cairo.

Masood Ahmed, the director of the IMF’s Middle East and Central Asia department, said on Wednesday in Dubai that Egypt has made some progress on meeting the fund’s conditions. But he suggested that more work is needed.

Ahmed says the IMF would only consider the loan once Egypt puts together an economic recovery plan with “the necessary backing.”

Egypt’s Islamist-dominated parliament last week rejected the military-appointed Cabinet’s economic plan, setting back efforts to secure the IMF funding.

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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