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 | Erdogan wants “realistic road map” for relations with Armenia Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia. Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements. Yerevan says did not expect CSTO in peacekeeping role Pashinyan has declared that the CSTO would be expected to come to the Armenia-Azerbaijan border as an ally of Armenia Henrikh Mkhitaryan wins Serie A title with Inter Inter Milan midfielder Henrikh Mkhitaryan admits that the team have long been imagining clinching Serie A against AC Milan. |