Rumours of IMF negotiations untrue: Finance Minister

Minister of Finance Hany Kadry Dimian denied media allegations which state that Egypt is negotiating with the International Monetary Fund (IMF) over a $10.4bn loan.

The minister added, however, that Egypt intends to invite an IMF delegation before the end of 2014.

The purpose of the visit would be to discuss the status of the Egyptian economy as entails the agreement between the IMF and its members, the minister noted.

Negotiations between the IMF and Egypt were suspended indefinitely following the election of former president Mohamed Morsi in June 2013.