World Bulletin / News Desk
The Egyptian government has ruled out an agreement with the International Monetary Fund (IMF) for a proposed loan.
"It might be difficult to sign a deal with the IMF in the coming period," interim Prime Minister Hazem al-Beblawi said in a statement following a Tuesday meeting with European ambassadors.
For more than one year, Egypt had been in negotiations with the IMF for a proposed $4.8 billion loan to help shore up its faltering post-revolution economy.
Despite months of talks, however, agreement on the loan's terms has remained elusive.
Egypt's interim government will remain in power until the election of a new president and parliament sometime next year.
"The IMF's role, however, will remain vital," al-Beblawi asserted. "And Egypt, one of the founders of the IMF, will continue to appreciate it."
Following the July 3 ouster of elected president Mohamed Morsi by the army, Egypt has received a combined total of $15.9 billion in aid from Saudi Arabia, the United Arab Emirates and Kuwait.Last Mod: 11 Aralık 2013, 10:28