November 14, 2012 / 5:18 PM / in 5 years

IMF team in Cairo extends stay for more loan talks - cenbank

CAIRO, Nov 14 (Reuters) - Egypt’s central bank said on Wednesday a team from the International Monetary Fund (IMF) in Cairo will extend its stay to continue loan talks with the government.

“The IMF mission will remain in Cairo for a few days to continue constructive consultations with the Egyptian authorities regarding the national economic program,” the central bank said in an emailed statement.

The IMF’s technical team has been in Cairo since Oct. 31 to negotiate a $4.8 billion loan that Egypt asked for to shore up finances hammered by last year’s popular uprising.

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