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SITUATION REPORT

Nov 27, 2012 | 12:58 GMT

Egypt: Economic, Policy Plans Must Remain Steady For IMF Loan, Spokeswoman Says

The International Monetary Fund will require that there be no major change in Egypt's policy and economic prospects when it considers approving a $4.8 billion loan to the country, an IMF spokeswoman said Nov. 27, Reuters reported. The spokeswoman made the statement in response to questions regarding President Mohammed Morsi's decree to extend his powers. Egypt needs the loan to stabilize its economic outlook, and the spokeswoman said Egyptian officials have not indicated a shift in economic plans.

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Egypt: Economic, Policy Plans Must Remain Steady For IMF Loan, Spokeswoman Says
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