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Summary Box: IMF waits on Egyptian economic plan

Associated Press Published: May 2, 2012

AID DEAL: A senior International Monetary Fund official said Wednesday the fund remains willing to consider a much-needed $3.2 billion aid package for Egypt but is waiting for consensus from political leaders in Cairo.

BACKGROUND: The IMF wants Egypt's interim military-backed government and elected officials to put together a comprehensive economic recovery plan before it agrees to provide aid. Egypt's parliament last week rejected the Cabinet's economic plan, setting back efforts to secure the funding.

REQUIREMENTS: IMF official Masood Ahmed says the plan should address economic imbalances within the country while protecting the poor and generating confidence among foreign investors.


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