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Egypt: IMF deal not endangered by political unrest

Source : AP
Last Updated: Thu, Nov 29, 2012 15:15 hrs

Egypt's foreign minister says the political unrest roiling his country after President Mohammed Morsi seized more power should not affect Egypt's negotiations with the International Monetary Fund for a $4.8 billion loan.

Mohammed Kamel Amr told reporters in Berlin after meetings Thursday with German Foreign Minister Guido Westerwelle that Morsi's move last week to grant himself near-autocratic powers — at least until a new constitution is adopted and parliamentary elections are held — was a domestic issue.

He says "what is happening (in Egypt) will not have an effect on the agreement with the monetary fund."

The IMF deal agreed to earlier this month would support Egypt for 22 months. The IMF's executive board still needs to approve it, and is expected to vote on the deal in mid-December.




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