IMF says Egypt's economy deterioratingMay 9, 2013 @ 10:56 am
WASHINGTON (AP) - The IMF says Egypt's financial situation is deteriorating and the organization is awaiting updated economic information and reform plans from the government in Cairo before it can move ahead with a deal on a $4.8 billion loan.
Egypt's negotiations with the IMF for the loan have dragged on for more than a year. The deal for the loan is expected to usher in widely unpopular austerity measures.
IMF spokesman Gerry Rice told reporters at a media briefing on Thursday that the IMF has not discussed or scheduled any future mission to Egypt yet because it is awaiting fresh economic data.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Wet Weather Risks
A storm has led to an increased threat of landslides & flooding in Western Washington
A Tacoma furniture store writes the checks for Percy Harvin's Super Bowl kick return
Check out the first clip of the new Jimi Hendrix biopic
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.