São Paulo – A mission of the International Monetary Fund (IMF) will go to Cairo this week to meet with Egyptian authorities and discuss an eventual loan to the Arab country. The information was disclosed by the Qatar News Agency .
According to IMF spokesperson Gerry Rice, the technicians will visit the country to take the “first step” in discussing an eventual “financial aid.”
Analysts interviewed by Associated Press have claimed, however, that a loan may not suffice to solve the country’s economic issues, which have worsened after dictator Hosni Mubarak stepped down, on February 11, 2011, amidst popular protests.
The country has suffered with the depreciation of the Egyptian pound and investor distrust regarding the political transition. According to Associated Press , Egyptian authorities turned down a US$ 3 billion loan offered by the Fund in June 2011.
*Translated by Gabriel Pomerancblum
