IMF, Egypt start new talks over $4.8bn loan March 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 |  Latest news Azerbaijan, Jordan sign deal on defense cooperation  Azerbaijan and Jordan have signed an agreement on cooperation in the field of defense, according to an official statement.Armenian cemetery in Fresno hit by arsons six times since January Six total incidents have burned 19 old-growth trees. Friday night 8 trees were torched along the beautiful main entrance.Iran vows to “decisively” defend sovereignty, national interests The Iranian embassy in Armenia has defended its “defensive and proportional action in in occupied Palestine.”Armenian shooter Elmira Karapetyan Armenian shooter Elmira Karapetyan won gold at the ISSF World Olympic Qualification Tournament in Rio de Janiero. |
