Egypt PM expects IMF deal to be signed within two months

 24 Oct 2016 - 23:04

Egypt PM expects IMF deal to be signed within two months
Egypt Prime Minister Sherif Ismail, pictured in 2015, said, "It is forbidden to set up or renovate statues, murals or sculptures in Egypt's public squares except after a thorough review by the ministries of antiquities and culture" (AFP Photo/Kenzo Tribouillard)

Reuters

CAIRO: Egypt hopes to receive final approval for its $12 billion International Monetary Fund lending programme within two months, Prime Minister Sherif Ismail said in a television interview on Monday.

Egypt received preliminary approval for the three-year deal aimed at plugging its budget deficit and balancing currency markets in August but the IMF’s executive board still has to sign off.

“I imagine that within the coming two months and before the end of the year we will have signed the loan,” the prime minister said in an interview with the Egyptian channel CBC.

(Reporting by Ali Abdelaty; Writing by Eric Knecht; Editing by Richard)