São Paulo – A mission of officials from the International Monetary Fund (IMF) will go to Egypt two weeks from now to proceed with negotiations for the provision of financial aid to the country. The information was released by the IMF Foreign Relations director, Gerry Rice, in an online press conference this Thursday (30th).
Rice mentioned that the Fund’s managing director, Christine Lagarde, travelled to the Arab country last week, and that the IMF is prepared to fully support the Egyptian economic program.
“We’d like to be supporting a program that takes into account Egypt’s social and economic challenges, a program that’s home-grown, a program that’s fully owned by the government of Egypt and a program for which there is a critical mass of support,” he said.
Egypt requested a US$ 4.8 billion loan from the IMF. Rice said it is still early to discuss the terms and conditions of an eventual agreement.
*Translated by Gabriel Pomerancblum
