Egypt's need for IMF deal "paramount", Kerry saysMarch 2, 2013 - 21:45 AMT PanARMENIAN.Net - Egypt's need to reach a loan deal with the IMF is "paramount", U.S. Secretary of State John Kerry said on Saturday, March 2, according to Reuters. Kerry also said he was certain that U.S. cooperation with Egypt can only happen if Cairo makes the right fundamental choices regarding the International Monetary Fund. Egypt said on Thursday it would invite an IMF team to reopen talks on a $4.8 billion loan, and the Investment Minister Osama Saleh expressed hope that a deal could be done by the end of April. "It is paramount, essential, urgent that the Egyptian economy get stronger, that it gets back on its feet," Kerry told Egyptian and U.S. Executives in Cairo. "It's clear to us that the IMF arrangement needs to be reached, that we need to give the market that confidence." The Muslim Brotherhood government of President Mohamed Mursi agreed the loan in principle last November but it was put on hold at Cairo's request during street violence the following month that flared in protest at a planned rise in taxes. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. 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. |