IMF Team to Visit Egypt for Loan Talks Before Month’s End

An International Monetary Fund team will go to Egypt this month to begin discussions about a loan to that country, a fund’s spokeswoman said.

“Upon the government’s request, a technical team is scheduled to travel to Egypt to start talks on an IMF loan before the end of the month,” IMF spokeswoman Wafa Amr said by e-mail.

Egypt increased its application for an IMF loan to $4.8 billion last month as IMF Managing Director Christine Lagarde traveled to Cairo to meet authorities including President Mohamed Mursi. The request has sparked opposition from political activists who say the international lender will impose stringent conditions in exchange for the money.

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