IMF Ready to Lend Egypt $3.2 Billion at 1% Interest, Ahram Says
The International Monetary Fund is prepared to lend Egypt $3.2 billion at a reduced interest rate of 1 percent, the Muslim Brotherhood’s now disqualified presidential candidate said, the state-run al-Ahram reported.
Khairat el-Shater, the Brotherhood’s chief strategist who was knocked out of the May race on electoral-law technicalities, said the offer came when IMF officials met with his group during a visit to Egypt earlier this month. He also said the U.S. deputy secretary of state had agreed to back Islamic bonds issued by Egypt abroad, the newspaper reported.
A call and text message for comment to the mobile phone of Finance Minister Momtaz el-Saieed weren’t immediately answered.
To contact the reporter on this story: Tarek El-Tablawy in Cairo at email@example.com
To contact the editor responsible for this story: Andrew J. Barden at firstname.lastname@example.org