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.