Gov’t Endorses National Reform Program

The Cabinet has endorsed a financial and economic reform program on which loan talks with the International Monetary Fund will be based. The IMF will be informed of the government's approval International Cooperation Minister Fayza Abul-Naga said, adding that an IMF delegation will be invited to Egypt for a second round of negotiations to borrow 3.2 billion dollars.

A World Bank delegation is due in Cairo on Sunday for talks on a one-billion-dollar loan to support the budget, Abul-Naga said. She made it clear that Egypt is seeking to receive a total of 4.7 billion dollars in loans from the IMF, WB and the African Development Bank.