Egypt doesn’t Need IMF Loan NowSource: www.export-egypt.com 9/17/2013, Location: Africa |
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Deputy Prime Minister and International Cooperation Minister Ziyad Bahaa Eddin said Egypt is not in urgent need to sign now an agreement with the International Monetary Fund (IMF) to get an aspired loan, asserting the government is capable of carrying out the national economic program that has been declared recently.
Bahaa Eddin stressed that Egypt's current government is working under extraordinary conditions in view of a complicated economic situation and regional and international pressures. Bahaa Eddin noted that the security and political problems have made the government one of the influential parties to settle such problems and not the only party involved. He said that the liquidity provided to the government, thanks to Arab support, helped it fulfill some of its commitments at the current difficult phase. Bahaa Eddin asserted that the return of foreign investments to Egypt depends on the political and security situation in the country. Bahaa Eddin added that the investments which decreased dramatically over the past three years will return gradually as they are connected with security and a favorable secure atmosphere. |
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