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Egypt eyes completion of IMF loan

Jan 06, 2013, 11:11 AM EST
REUTERS/Stringer

Egypt 's Prime Minister Hisham Kandil said the government would seek to reassure International Monetary Fund officials due to arrive in Cairo on Monday about the "soundness of the government's orientation and the ability of the Egyptian economy to recover." Egypt reshuffled its government on Sunday to strengthen Islamist control. New finance minister Al-Mursi Al-Sayed Hegazy pledged to complete talks with the IMF on a $4.8 billion loan deal to stave off a currency crisis that risks igniting more unrest. The loan was postponed last month to give Egypt more time to tackle political tensions before introducing unpopular austerity measures.

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