Egypt may seek $4.8 billion from IMF

By REUTERS
August 15, 2012 16:21

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

CAIRO - Egypt will discuss the possibility of a bigger-than-expected $4.8 billion loan from the International Monetary Fund when a delegation from the Washington-based body visits Cairo this month, its finance minister said.

Successive governments have negotiated with the IMF to secure emergency funding that officials had put at $3.2 billion, but no deal has been reached and Egypt's funding problems have steadily worsened during 18 months of political turmoil.

"We will discuss, in the negotiations we are to carry out with the IMF, increasing the loan to $4.8 bln," minister Mumtaz al-Saeed told reporters, adding that he asked the United States on Tuesday for a $500 million grant to support the state budget.

Related Content

Breaking news
August 18, 2018
Ukraine, Iran and human rights on agenda for talks with Putin - Merkel

By REUTERS