News / Reports

Egyptians skeptical over new IMF loan deal

Saturday, 13 August 2016 12:04 AM [ Last Update: Saturday, 13 August 2016 12:05 AM ]

The International Monetary Fund head of delegation for Egypt, Chris Jarvis, Egypt’s Minister of Finance Amr al-Garhy and Central Bank of Egypt chief Tarek AmeR attend a joint press conference in Cairo on August 11, 2016. (AFP)

Mohamed Shalaby
Press TV, Cairo

Egypt and the International Monetary Fund have agreed on an initial accord for a 12 billion US dollar loan. The announcement has been met with skepticism and fear among Egyptians, who say the deal will not be implemented without the crippling IMF pre-conditions. Mohamed Shalaby reports from Cairo.

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