World Bank, IMF loans not needed, Egypt says

Latest update : 2011-06-25
Egypt has decided it will not need a loan from the IMF or World Bank after revising its budget and slashing its deficit forecast, Finance Minister Samir Radwan said Saturday, although a $3 billion IMF standby loan was agreed earlier in June.
REUTERS - Egypt will not borrow from the World Bank and International Monetary Fund after revising its budget and cutting the forecast deficit, even though a loan had been agreed, Finance Minister Samir Radwan said on Saturday.
Date created : 2011-06-25