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Tuesday, 12 April 2016

Nasr, Garhy, Amer to take part in IMF, World Bank spring meetings to talk loan packages.

Garhy, Nasr and Amer heading to D.C. for IMF, World Bank spring meetings: International Cooperation Minister Sahar Nasr will be in Washington, DC, to take part in the World Bank and International Monetary Fund’s spring meetings of from 15-17 April, Al Shorouk reports. Nasr is paving the way for the arrival of Finance Minister Amr El Garhy and Central Bank of Egypt Governor Tarek Amer, although it is unclear, based on El Garhy’s statements earlier this week, whether the Egyptian delegation will request an IMF facility. Nasr said she would discuss the status of the World Bank’s USD 8 bn loan package pledged last year and hold meetings with other international financial institutions. Al Masry Al Youm reports that the World Bank aid is now in the hands Egypt’s House of Representatives; the Bank has previously said that disbursement of the first tranche of support is conditional on the acceptance of cabinet’s economic program — presumably including the VAT — by the House. The agendas for the meetings are here.  

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