The Egyptian Prime Minister Hesham Kandil announced that the International Monetary Fund (IMF) has put no conditions on loan to Egypt. Instead, Egypt will set the economic reform plan and IMF will just review it.
IMF did not condition lowering the value of the Egyptian pound to lend Egypt US$ 4.8 billion that the country requested.
During the press conference held on the sidelines of his visit to the Egyptian Stock Exchange, Kandil said Egypt will implement the economic reform plan, regardless of IMF’s request. The economic reform plan is being set by Egypt only without any foreign interference, Kandil affirmed.
Kandil concluded that the economic reform plan and the talks held by IMF and Egypt over the US$ 4.8 billion loan will regain the confidence of investors in the Egyptian market.
