IMF department director to visit Egypt on Monday

Liliana Mihaila
1 Min Read

Director of the Middle East and Central Asia Department of the International Monetary Fund Masood Ahmed is scheduled to visit Egypt on Monday, according to an IMF statement.

“The purpose of the visit is to discuss with the authorities the most recent economic developments, their policy plans for addressing Egypt’s economic and financial challenges, and possible IMF support for Egypt in facing these challenges,” read the statement.

Prime Minister Hisham Qandil said last week that that Egypt was ready to resume talks with the International Monetary Fund in January on a $4.8-billion loan frozen this month because of political tensions and unrest.

Since the February 2011 ouster of long-time strongman Hosni Mubarak, Egypt’s economy has nosedived as investment from abroad has dried up and key revenue-earner tourism has taken a major tumble.


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