IMF, Egypt start new talks over $4.8bn loanMarch 18, 2013 - 09:26 AMT PanARMENIAN.Net - A top International Monetary Fund official has begun several more weeks of talks with Egyptian officials over the country's economic reform program to secure a $4.8 billion loan, The Associated Press reported. In an IMF statement, top official Masood Ahmed said he welcomes Egyptian determination to move forward with their economic reform program. The IMF has in the past pushed for reforms in taxation and subsidies before granting loans. Egypt sees the loan as a lifeline to boost critically low foreign reserves and lure back foreign investors. Ahmed met with officials Sunday, March 17 in Cairo, including Egypt's prime minister and the central bank governor. Talks were delayed in December when violent protests erupted and the president was forced to rescind austerity plans. Investors and activists demanded a national dialogue on the changes first. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |