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      Archive: 8/21/2012

      News Brief

        8/21/2012, Elul 3, 5772

      Egypt to Seek $4.8 Billion Loan from IMF

      The Egyptian Finance Ministry announced, Monday, that Prime Minister Hasem Qandil is scheduled to begin talks, Wednesday, with Managing Director Christine Lagarde of the International Monetary Fund to obtain a loan of $4.8 billion.

      Finance Minister Momtaz Al-Saeed, who will attend the meeting said the amount represents $1.6 billion more than the IMF has already promised.