Rivers of Hope

CAIRO (AP) — Egypt’s official news agency says the government has invited an International Monetary Fund delegation in March to resume talks on a $4.8 billion dollar loan desperately needed to boost the ailing economy.

The Middle East News Agency, MENA, quoted InvestmentMinister Osama Saleh on Thursday as saying the government will present the delegation with changes to its economic reform program.

He didn’t reveal the nature of the changes.

Egypt’s ongoing political unrest has cast doubts over its ability to secure the loan, which is considered crucial to shoring up investor confidence and freeing up a wave of loans that Cairo has requested from other lenders.

The loan talks were set back after Egypt backtracked on raising taxes late last year.


Associated Press

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