Egypt Expects IMF Loan Installment in January as Talks Delayed

Egypt expects to receive the fifth installment of a $12 billion International Monetary Fund loan in January, a month later than initially scheduled, amid delays in talks over some elements of the government’s economic program, a senior Egyptian official said.

Among the most important of the issues is the timing of the announcement about the fuel pricing mechanism -- a step the IMF has insisted upon, the official said, speaking on condition of anonymity because he wasn’t authorized to disclose the details of the talks. The mechanism links local fuel prices to international ones, and is a key part of the government’s plans to cut costs.