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The crisis between the government and the People's Assembly (PA) majority over the proposed International Monetary Fund (IMF) loan on 3/4/2012 witnessed a breakthrough after a series of meetings held between some ministers and House representatives. "The meetings were held to discuss the current economic conditions and the importance of Egypt's obtaining of the loan," said Finance Minister Momtaz el-Saeed. The MPs showed comprehension of the economic conditions that Egypt is currently undergoing. MPs and the cabinet's agreement will be submitted to the IMF's management for approval. Later on, the PA will endorse agreement so that the current government could cash the $ 3.2 billion loan, added the Minister.
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