BREAKING NEWS

IMF to schedule mission to Egypt later in March

By REUTERS

MARCH 8, 2012 18:22

WASHINGTON - The International Monetary Fund has received a document outlining Egypt's proposed economic program, to be supported by IMF financing, and will schedule a mission to Cairo later in March, a Fund spokesman said on Thursday.

"We have now received a document that describes in broad terms their economic program," IMF spokesman Gerry Rice told reporters. "In coming days our staff will be studying that document and assess the policies, and ... we expect to schedule a mission to Cairo in the second half of March," he added.

Egypt has requested a $3.2 billion lending program from the IMF to help plug a widening budget and balance of payments deficit.

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