A high-ranking official at the International Monetary Fund will meet on Monday with President Mohamed Morsy, Prime Minister Hesham Qandil and other senior officials to mull a Cairo request for a US$4.8 billion loan, state-run Al-Akhbar newspaper’s weekly edition reported Saturday.
The IMF loan is considered necessary by many economic experts to reduce the state budget deficit and limit the economic deterioration resulting from the revolution that overthrew former President Hosni Mubarak in 2011 and the political turbulence since then..
“President Mohamed Morsy will meet up on with Monday Massoud Ahmed, head of the Middle East department at the International Monetary Fund. Talks over the fund loan are expected to take place during the meeting,” Al-Akhbar reported.
The paper added that an IMF delegation will also meet with the Central Bank governor and the economic ministerial group.
