S\u00e3o Paulo \u2013 The International Monetary Fund (IMF) should provide financial support for the recovery of Egypt. The announcement was made on Wednesday (22) by the managing director at the organisation, Christine Lagarde, while visiting the country. She met with the president of Egypt, Mohamad Morsi, and with prime minister Hesham Kandil, with the Finance Minister, Mumtaz Said, and with other members of the economic team of the local government.<\/p>\n
"The authorities have indicated that Egypt would like the IMF to support Egypt\u2019s economic program financially to help the country recover and to lay the foundation for strong growth that benefits all. We are responding quickly to this request. A technical team will be arriving in Cairo in the early September to work with the authorities on their program and discuss possible forms of financial support from the IMF," said Lagarde, according to a press statement issued by the fund.<\/p>\n
The IMF statement does not bring the volume of aid called for by Egypt, though news agency Reuters<\/i> informs that the call was for US$ 4.8 billion, according to information provided to the agency by Yasser Ali, a spokesperson for the Egyptian president.<\/p>\n
During the visit, Lagarde congratulated Morsi for his election and said that the fund is engaged with supporting Egypt and its people \u201cduring this historic period of transition\u201d. \u201cThe IMF has maintained a close dialogue on economic policy with the Egyptian authorities since the start of the transition and provided considerable technical assistance upon request from the government,\u201d she says.<\/p>\n
Lagarde stated that Egypt is facing \u201cconsiderable challenges\u201d, like the need to return to growth and reduce the deficit between the budget and the balance of payments. \u201cGetting the country\u2019s economy back on track and raising the living standards for all will not be an easy task. The Egyptian people have legitimate expectations for a better life and greater social justice. We at the IMF, stand ready to help,\u201d she finished off.<\/p>\n
*Translated by Mark Ament<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
The fund should send a technical team to the country in September to evaluate financial assistance, informed the managing diretor of the institution, Christine Lagarde, on visiting Cairo.<\/p>\n","protected":false},"author":2316,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-42379","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"The fund should send a technical team to the country in September to evaluate financial assistance, informed the managing diretor of the institution, Christine Lagarde, on visiting Cairo.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/42379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=42379"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/42379\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=42379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=42379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=42379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}